Cypress Asset Management Inc. TX Invests $14.61 Million in JPMorgan Chase & Co. (NYSE:JPM)

Cypress Asset Management Inc. TX purchased a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 59,529 shares of the financial services provider's stock, valued at approximately $14,606,000. JPMorgan Chase & Co. accounts for 3.6% of Cypress Asset Management Inc. TX's portfolio, making the stock its 7th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $8,310,884,000. Northern Trust Corp raised its stake in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. Proficio Capital Partners LLC raised its stake in JPMorgan Chase & Co. by 34,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock valued at $838,865,000 after acquiring an additional 3,489,314 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of JPMorgan Chase & Co. by 31.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after buying an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of JPMorgan Chase & Co. by 16.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after buying an additional 2,465,572 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated 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 completion of the transaction, the general counsel now directly owns 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction on 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 sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,594 shares of company stock valued at $23,991,061. Company insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. Evercore ISI dropped their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Royal Bank of Canada reissued an "outperform" rating and set a $285.00 price objective (up previously from $255.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Robert W. Baird upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, May 20th. Bank of America decreased their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $266.65.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded up $4.41 on Tuesday, reaching $265.12. The company's stock had a trading volume of 7,499,634 shares, compared to its average volume of 9,577,226. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The company has a market cap of $736.79 billion, a P/E ratio of 13.43, a PEG ratio of 2.83 and a beta of 1.07. The company has a 50-day simple moving average of $244.31 and a 200 day simple moving average of $248.58. 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 released 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. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the previous year, the company earned $4.44 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

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.