JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by ACR Alpine Capital Research LLC

Key Points

• ACR Alpine Capital Research LLC has reduced its stake in JPMorgan Chase & Co. by 13.2%, now holding 1,124,542 shares valued at approximately $275.85 million.
• Wall Street analysts show mixed views on JPMorgan, with ratings ranging from 3 sell to 1 strong buy, and an average target price of $288.68.
• The company has declared a quarterly dividend of $1.40 per share, resulting in an annual yield of 1.89%, with a payout ratio of 28.73%.

ACR Alpine Capital Research LLC cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,124,542 shares of the financial services provider's stock after selling 171,748 shares during the period. JPMorgan Chase & Co. accounts for about 5.8% of ACR Alpine Capital Research LLC's investment portfolio, making the stock its 9th largest position. ACR Alpine Capital Research LLC's holdings in JPMorgan Chase & Co. were worth $275,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth approximately $33,000. 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 acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $37,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on JPM shares. HSBC restated a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating for the company. Finally, Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $288.68.

Insiders Place Their Bets

In other news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 in the last three months. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 2.4%

NYSE JPM traded down $7.03 on Friday, reaching $289.21. The company had a trading volume of 12,005,470 shares, compared to its average volume of 10,131,769. The stock's 50 day moving average is $280.47 and its 200-day moving average is $261.28. The stock has a market cap of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.02 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm's revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.12 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

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.