Charles Schwab Investment Management Inc. Sells 257,000 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Charles Schwab Investment Management Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,846,063 shares of the financial services provider's stock after selling 257,000 shares during the period. JPMorgan Chase & Co. comprises about 0.9% of Charles Schwab Investment Management Inc.'s holdings, making the stock its 19th biggest position. Charles Schwab Investment Management Inc. owned about 0.71% of JPMorgan Chase & Co. worth $4,867,836,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in JPM. Northern Trust Corp boosted 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 purchasing an additional 4,515,147 shares during the period. Bank of New York Mellon Corp boosted 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 purchasing an additional 454,226 shares during the period. GAMMA Investing LLC boosted 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 purchasing an additional 23,465,278 shares during the period. Capital Research Global Investors boosted its position in 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. Finally, Goldman Sachs Group Inc. boosted its position in JPMorgan Chase & Co. by 2.7% during the first quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM traded up $3.07 on Tuesday, reaching $292.63. The company had a trading volume of 8,570,252 shares, compared to its average volume of 9,987,106. The company has a market cap of $804.66 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.93 and a beta of 1.11. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $301.29. The business has a 50 day simple moving average of $284.24 and a 200 day simple moving average of $262.86. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly 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. The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $6.12 earnings per share. As a group, sell-side analysts anticipate 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. 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 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. 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 transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. 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 transaction, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock worth $4,113,796 over the last three months. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. HSBC reiterated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Finally, Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $288.68.

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.