Harvest Investment Services LLC Sells 1,734 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Harvest Investment Services LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 39.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,682 shares of the financial services provider’s stock after selling 1,734 shares during the period. Harvest Investment Services LLC’s holdings in JPMorgan Chase & Co. were worth $643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $29,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $37,000. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. StockNews.com cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Monday, April 14th. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the company from $215.00 to $220.00 in a report on Friday, March 7th. Finally, KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $255.67.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the transaction, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. The trade was a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,545 shares of company stock worth $19,149,144 over the last three months. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 2.8 %

Shares of JPM stock opened at $235.51 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company has a market cap of $655.42 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 1 year low of $188.46 and a 1 year high of $280.25. The firm has a fifty day moving average price of $242.98 and a 200-day moving average price of $243.17.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the prior year, the business posted $4.44 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.38%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.