JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 587,252 shares of the financial services provider's stock after selling 2,396 shares during the period. JPMorgan Chase & Co. makes up about 0.8% of DAVENPORT & Co LLC's holdings, making the stock its 24th biggest position. DAVENPORT & Co LLC's holdings in JPMorgan Chase & Co. were worth $143,782,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Blue Bell Private Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock valued at $622,000 after purchasing an additional 38 shares during the last quarter. Hurlow Wealth Management Group Inc. raised its stake in JPMorgan Chase & Co. by 0.7% during the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock valued at $1,328,000 after buying an additional 40 shares during the last quarter. Wimmer Associates 1 LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after buying an additional 40 shares during the period. Twin Lakes Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after buying an additional 40 shares during the period. Finally, Rockbridge Investment Management LCC boosted its stake in shares of JPMorgan Chase & Co. by 2.3% in the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock worth $441,000 after buying an additional 41 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Keefe, Bruyette & Woods raised JPMorgan Chase & Co. from a "market perform" rating to an "outperform" rating and set a $327.00 price target on the stock in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $280.45.

JPMorgan Chase & Co. Trading Up 0.1%

Shares of JPM traded up $0.16 during mid-day trading on Wednesday, reaching $282.94. 11,270,196 shares of the company's stock traded hands, compared to its average volume of 9,566,674. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The stock's 50-day moving average is $268.71 and its two-hundred day moving average is $255.45. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The stock has a market cap of $786.32 billion, a P/E ratio of 13.89, a P/E/G ratio of 2.71 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates 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 was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $4.44 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.98%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction on 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 completion of the sale, the chief operating officer owned 68,583 shares in the company, valued at $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last 90 days. 0.47% of the stock is currently owned by insiders.

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.