JPMorgan Chase & Co. (NYSE:JPM) Stake Boosted by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 19.1% during the 1st quarter, owning 418,000 shares valued at approximately $102.5 million.
• Insiders, including COO Jennifer Piepszak and CFO Jeremy Barnum, recently sold shares of the company, indicating a significant decrease in their ownership.
• JPMorgan Chase & Co. reported a quarterly earnings per share of $4.96, surpassing estimates, while also announcing a quarterly dividend of $1.40 per share.

Carnegie Investment Counsel boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 19.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 418,000 shares of the financial services provider's stock after purchasing an additional 66,905 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.3% of Carnegie Investment Counsel's investment portfolio, making the stock its 4th biggest holding. Carnegie Investment Counsel's holdings in JPMorgan Chase & Co. were worth $102,535,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of JPM. Geode Capital Management LLC lifted its position 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 worth $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth $8,310,884,000. Northern Trust Corp raised its position in 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 acquiring an additional 4,515,147 shares in the last quarter. Bank of New York Mellon Corp raised its position 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 position 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 and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 2.4%

JPMorgan Chase & Co. stock traded down $7.03 during mid-day trading on Friday, hitting $289.21. 12,005,470 shares of the stock were exchanged, compared to its average volume of 10,131,769. 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 12 month low of $190.90 and a 12 month high of $301.29. The firm's fifty day simple moving average is $280.47 and its two-hundred day simple moving average is $261.28. The stock has a market capitalization of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.02 and a beta of 1.10.

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

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analysts Forecast Growth

JPM has been the topic of several analyst reports. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business'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 sale, the director owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Company 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.