JPMorgan Chase & Co. (NYSE:JPM) Position Lessened by Essex LLC

Essex LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,271 shares of the financial services provider's stock after selling 1,187 shares during the period. JPMorgan Chase & Co. makes up 1.8% of Essex LLC's portfolio, making the stock its 11th biggest position. Essex LLC's holdings in JPMorgan Chase & Co. were worth $8,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. RedJay Asset Management Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $2,698,000. Red Door Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 3.7% during the 1st quarter. Red Door Wealth Management LLC now owns 72,225 shares of the financial services provider's stock valued at $17,717,000 after purchasing an additional 2,555 shares during the last quarter. WASHINGTON TRUST Co increased its position in shares of JPMorgan Chase & Co. by 16.5% during the 1st quarter. WASHINGTON TRUST Co now owns 220,937 shares of the financial services provider's stock valued at $54,196,000 after purchasing an additional 31,261 shares during the last quarter. Insight Inv LLC grew its position in JPMorgan Chase & Co. by 111.8% in the 1st quarter. Insight Inv LLC now owns 29,376 shares of the financial services provider's stock valued at $7,206,000 after acquiring an additional 15,504 shares during the last quarter. Finally, Nabity Jensen Investment Management Inc grew its position in JPMorgan Chase & Co. by 1.6% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 6,991 shares of the financial services provider's stock valued at $1,715,000 after acquiring an additional 107 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded down $9.11 on Tuesday, reaching $282.86. 15,432,541 shares of the company traded hands, compared to its average volume of 9,557,822. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40. The company's 50 day moving average is $267.94 and its 200-day moving average is $255.26. The stock has a market capitalization of $786.09 billion, a PE ratio of 13.89, a P/E/G ratio of 2.71 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released 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 company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.44 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the 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 completion of the sale, the director owned 91,539 shares in the company, valued at $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 over the last three months. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JPM shares. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Morgan Stanley set a $240.00 price target on JPMorgan Chase & Co. and gave the company an "equal weight" rating in a research note on Monday. Bank of America raised their price objective on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Finally, TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus target price of $276.80.

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.