Cullinan Associates Inc. Sells 2,759 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cullinan Associates Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,383 shares of the financial services provider's stock after selling 2,759 shares during the quarter. JPMorgan Chase & Co. comprises about 1.4% of Cullinan Associates Inc.'s portfolio, making the stock its 19th largest holding. Cullinan Associates Inc.'s holdings in JPMorgan Chase & Co. were worth $19,718,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $471,000. Disciplined Investments LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $217,000. LGT Group Foundation raised its stake in JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after purchasing an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. raised its stake in JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock valued at $10,483,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Jag Capital Management LLC raised its stake in JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Robert W. Baird boosted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Finally, Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $271.90.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated 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 transaction, the director now directly owns 91,539 shares in the company, valued at $22,884,750. This represents a 9.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer now owns 68,583 shares in the company, valued at approximately $17,197,873.08. The trade was a 8.20% 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 worth $18,060,015 in the last three months. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.0%

NYSE JPM opened at $281.18 on Wednesday. The company's 50-day moving average price is $258.21 and its 200-day moving average price is $251.92. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock has a market cap of $781.42 billion, a PE ratio of 13.80, a PEG ratio of 2.59 and a beta of 1.08. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $282.72.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.44 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

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.

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