Cullen Frost Bankers Inc. Sells 15,175 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cullen Frost Bankers Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,600 shares of the financial services provider's stock after selling 15,175 shares during the period. JPMorgan Chase & Co. makes up about 1.3% of Cullen Frost Bankers Inc.'s portfolio, making the stock its 17th biggest holding. Cullen Frost Bankers Inc.'s holdings in JPMorgan Chase & Co. were worth $92,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares of the company's stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last quarter. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM traded up $1.91 on Friday, hitting $298.46. 5,918,228 shares of the stock traded hands, compared to its average volume of 9,347,400. The business's fifty day moving average is $277.68 and its two-hundred day moving average is $259.88. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $299.59. The firm has a market capitalization of $829.45 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.02 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Analyst Ratings Changes

JPM has been the topic of a number of analyst reports. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. KGI Securities began coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating on the stock. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Bank of America upped their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Three 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $288.68.

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.