Baxter Bros Inc. Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Baxter Bros Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,370 shares of the financial services provider's stock after selling 1,037 shares during the quarter. JPMorgan Chase & Co. accounts for 2.5% of Baxter Bros Inc.'s holdings, making the stock its 11th largest holding. Baxter Bros Inc.'s holdings in JPMorgan Chase & Co. were worth $18,979,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after buying an additional 876,417 shares during the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $8,310,884,000. Northern Trust Corp lifted its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. GAMMA Investing LLC lifted its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors lifted its holdings in shares of JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after purchasing an additional 1,914,049 shares during the period. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on JPM. Royal Bank of Canada reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. Morgan Stanley reiterated an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Finally, Evercore ISI dropped their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and an average target price of $267.15.

JPMorgan Chase & Co. Stock Down 0.7%

JPM stock traded down $1.89 during trading on Wednesday, reaching $264.38. The stock had a trading volume of 5,909,834 shares, compared to its average volume of 9,538,262. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company's 50 day moving average is $246.48 and its two-hundred day moving average is $249.49. The company has a market capitalization of $734.74 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the prior year, the firm posted $4.44 EPS. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel now directly owns 36,520 shares of the company's stock, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares of the company's stock, valued at $12,130,438.84. This represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,594 shares of company stock valued at $23,991,061. Corporate insiders own 0.47% of the company's stock.

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.