Dodge & Cox Sells 16,257 Shares of JPMorgan Chase & Co. $JPM

Key Points

• Dodge & Cox reduced its stake in JPMorgan Chase & Co. by 5.5%, selling 16,257 shares, leaving them with a total of 277,023 shares valued at approximately $67.95 million.
• Despite the sale by Dodge & Cox, other institutional investors increased their holdings in JPMorgan Chase, with 71.55% of the company's stock now owned by such investors.
• The company's quarterly earnings report revealed $4.96 earnings per share, surpassing estimates, while also noting a year-over-year revenue decline of 10.5%.

Dodge & Cox lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 277,023 shares of the financial services provider's stock after selling 16,257 shares during the quarter. Dodge & Cox's holdings in JPMorgan Chase & Co. were worth $67,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wimmer Associates 1 LLC lifted its position in shares of JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after buying an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC boosted its position in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after purchasing an additional 40 shares during the period. First Command Advisory Services Inc. boosted its position in JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after purchasing an additional 40 shares during the period. Black Swift Group LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares during the last quarter. Finally, Beacon Bridge Wealth Partners LLC raised its position in shares of JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares during the period. Institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on JPM shares. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Phillip Securities lowered shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Trading Up 1.6%

Shares of JPM stock opened at $295.9920 on Friday. The company has a market capitalization of $813.91 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $288.92 and a 200 day moving average price of $264.46.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $6.12 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.47% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.