Cannell Peter B & Co. Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.9% during the third quarter, HoldingsChannel.com reports. The firm owned 90,743 shares of the financial services provider’s stock after selling 11,114 shares during the quarter. Cannell Peter B & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $8,667,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Private Vista LLC purchased a new stake in JPMorgan Chase & Co. during the second quarter valued at approximately $102,000. Kohmann Bosshard Financial Services LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $102,000. Welch Investments LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $103,000. Legacy Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $106,000. Finally, Atlantic Trust LLC bought a new position in shares of JPMorgan Chase & Co. during the second quarter valued at approximately $136,000. Institutional investors and hedge funds own 73.66% of the company’s stock.

JPMorgan Chase & Co. (NYSE JPM) opened at $111.74 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $81.64 and a 52 week high of $117.35. The stock has a market capitalization of $387,710.00, a P/E ratio of 17.51, a P/E/G ratio of 1.86 and a beta of 1.22. The company has a quick ratio of 1.03, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.07. JPMorgan Chase & Co. had a return on equity of 11.63% and a net margin of 21.46%. The company had revenue of $24.15 billion for the quarter, compared to analysts’ expectations of $24.87 billion. During the same quarter in the prior year, the firm earned $1.71 earnings per share. JPMorgan Chase & Co.’s revenue was up 3.3% compared to the same quarter last year. analysts expect that JPMorgan Chase & Co. will post 8.85 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 5th were paid a $0.56 dividend. The ex-dividend date was Thursday, January 4th. This represents a $2.24 annualized dividend and a yield of 2.00%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 35.11%.

A number of research analysts have recently commented on JPM shares. Vetr cut JPMorgan Chase & Co. from a “sell” rating to a “strong sell” rating and set a $93.51 target price on the stock. in a research note on Wednesday, January 10th. Credit Suisse Group raised JPMorgan Chase & Co. to a “buy” rating and set a $120.00 target price on the stock in a research note on Friday, January 5th. Vining Sparks reaffirmed a “buy” rating and set a $120.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday, January 12th. Zacks Investment Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Thursday, January 18th. Finally, ValuEngine raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $107.42.

In related news, CEO Mary E. Erdoes sold 65,101 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $112.25, for a total value of $7,307,587.25. Following the transaction, the chief executive officer now owns 479,882 shares of the company’s stock, valued at $53,866,754.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ashley Bacon sold 16,434 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $112.22, for a total value of $1,844,223.48. Following the completion of the transaction, the insider now directly owns 98,811 shares in the company, valued at approximately $11,088,570.42. The disclosure for this sale can be found here. In the last three months, insiders sold 152,047 shares of company stock worth $17,098,115. 0.88% of the stock is owned by insiders.

COPYRIGHT VIOLATION WARNING: “Cannell Peter B & Co. Inc. Sells 11,114 Shares of JPMorgan Chase & Co. (JPM)” was published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this story on another site, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://theolympiareport.com/2018/02/13/cannell-peter-b-co-inc-sells-11114-shares-of-jpmorgan-chase-co-jpm.html.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment offers services to consumers and businesses through bank branches, automatic teller machines (ATMs), online, mobile and telephone banking.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM).

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

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.