Centre Asset Management LLC Purchases New Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Centre Asset Management LLC acquired a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,560 shares of the financial services provider's stock, valued at approximately $5,534,000.

Several other hedge funds have also bought and sold shares of the stock. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Sellwood Investment Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In related news, insider Robin Leopold sold 1,250 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. This represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares of the company's stock, valued at $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,594 shares of company stock valued at $23,991,061. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

JPM stock traded down $0.40 during midday trading on Friday, hitting $263.97. 10,976,619 shares of the stock were exchanged, compared to its average volume of 9,564,755. The stock's 50-day moving average price is $245.86 and its 200-day moving average price is $249.24. The stock has a market cap of $733.60 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

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 the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.'s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.44 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

JPM has been the subject of several research analyst reports. TD Securities upped their target price on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. UBS Group raised their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Finally, Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $266.65.

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.