Clear Harbor Asset Management LLC Cuts Stake in JPMorgan Chase & Co. (JPM)

Clear Harbor Asset Management LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,509 shares of the financial services provider’s stock after selling 1,050 shares during the quarter. JPMorgan Chase & Co. comprises about 1.0% of Clear Harbor Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Clear Harbor Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CapWealth Advisors LLC increased its holdings in JPMorgan Chase & Co. by 1.4% in the third quarter. CapWealth Advisors LLC now owns 50,897 shares of the financial services provider’s stock valued at $4,861,000 after purchasing an additional 726 shares during the last quarter. BB&T Investment Services Inc. increased its holdings in JPMorgan Chase & Co. by 25.9% in the third quarter. BB&T Investment Services Inc. now owns 22,222 shares of the financial services provider’s stock valued at $2,132,000 after purchasing an additional 4,565 shares during the last quarter. Financial Counselors Inc. increased its holdings in JPMorgan Chase & Co. by 2.7% in the third quarter. Financial Counselors Inc. now owns 290,834 shares of the financial services provider’s stock valued at $27,778,000 after purchasing an additional 7,560 shares during the last quarter. Private Advisor Group LLC increased its holdings in JPMorgan Chase & Co. by 12.4% in the third quarter. Private Advisor Group LLC now owns 216,598 shares of the financial services provider’s stock valued at $20,872,000 after purchasing an additional 23,859 shares during the last quarter. Finally, Argent Trust Co increased its holdings in JPMorgan Chase & Co. by 5.7% in the third quarter. Argent Trust Co now owns 38,933 shares of the financial services provider’s stock valued at $3,719,000 after purchasing an additional 2,101 shares during the last quarter. 72.00% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. opened at $103.24 on Thursday, MarketBeat reports. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.19. The stock has a market cap of $359.64 billion, a P/E ratio of 15.03, a PEG ratio of 1.74 and a beta of 1.21. JPMorgan Chase & Co. has a 52-week low of $88.08 and a 52-week high of $119.33.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.09. The business had revenue of $27.90 billion during the quarter, compared to the consensus estimate of $27.73 billion. JPMorgan Chase & Co. had a return on equity of 12.60% and a net margin of 22.53%. JPMorgan Chase & Co.’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. research analysts predict that JPMorgan Chase & Co. will post 9.03 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, July 6th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.17%. JPMorgan Chase & Co.’s payout ratio is presently 32.61%.

JPM has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. HSBC initiated coverage on JPMorgan Chase & Co. in a report on Wednesday, April 11th. They issued a “hold” rating and a $111.00 price objective for the company. ValuEngine downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Vetr downgraded JPMorgan Chase & Co. from a “strong-buy” rating to a “buy” rating and set a $123.29 price objective for the company. in a report on Thursday, April 5th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $122.00 price objective on shares of JPMorgan Chase & Co. in a report on Monday, April 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $114.06.

In other news, Director Mellody L. Hobson acquired 18,000 shares of the firm’s stock in a transaction that occurred on Monday, April 16th. The stock was acquired at an average cost of $111.05 per share, for a total transaction of $1,998,900.00. Following the completion of the acquisition, the director now owns 864 shares in the company, valued at $95,947.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd A. Combs acquired 13,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were purchased at an average price of $114.61 per share, with a total value of $1,489,930.00. Following the completion of the acquisition, the director now owns 18,277 shares of the company’s stock, valued at approximately $2,094,726.97. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 53,000 shares of company stock valued at $25,488,830. 0.73% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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