Brick & Kyle Associates Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Brick & Kyle Associates lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,840 shares of the financial services provider's stock after selling 893 shares during the period. JPMorgan Chase & Co. makes up 3.6% of Brick & Kyle Associates' portfolio, making the stock its 7th biggest position. Brick & Kyle Associates' holdings in JPMorgan Chase & Co. were worth $7,943,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $8,310,884,000. Northern Trust Corp lifted its holdings in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in 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 acquiring an additional 23,465,278 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several analyst reports. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. Bank of America upped their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Wells Fargo & Company reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Monday, July 7th. Finally, Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $284.42.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. This represents a 8.94% 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, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. This represents a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Up 0.6%

Shares of NYSE:JPM opened at $288.60 on Tuesday. The company has a market capitalization of $802.06 billion, a P/E ratio of 14.17, a P/E/G ratio of 2.62 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The business's 50 day simple moving average is $271.71 and its 200 day simple moving average is $256.81.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.44 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

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.

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