AGF Management Ltd. Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• AGF Management Ltd. reduced its stake in JPMorgan Chase & Co. by 3.5%, selling 21,250 shares, and now holds 583,227 shares valued at approximately $143 million.
• Several institutional investors have increased their stakes in JPMorgan Chase, with notable increases including a 62.5% boost by Florida Financial Advisors LLC.
• JPMorgan Chase recently reported $4.96 EPS for the quarter, exceeding expectations, but experienced a year-over-year 10.5% decline in revenue, totaling $44.91 billion.

AGF Management Ltd. decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 583,227 shares of the financial services provider's stock after selling 21,250 shares during the quarter. AGF Management Ltd.'s holdings in JPMorgan Chase & Co. were worth $143,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the first quarter worth $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the first quarter worth $33,000. Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth $44,000. Finally, Minot DeBlois Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth $54,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the sale, the general counsel directly owned 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,557 shares of company stock worth $4,113,796. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Morgan Stanley increased their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, HSBC reiterated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Down 1.3%

JPM stock traded down $3.68 during mid-day trading on Friday, reaching $290.48. 7,339,238 shares of the company traded hands, compared to its average volume of 7,940,475. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The firm's 50 day moving average price is $286.42 and its 200 day moving average price is $263.59. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $798.75 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.93 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter last year, the firm earned $6.12 EPS. The company's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

About JPMorgan Chase & Co.

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.