First Citizens Bank & Trust Co. Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

First Citizens Bank & Trust Co. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,313 shares of the financial services provider's stock after selling 5,313 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.6% of First Citizens Bank & Trust Co.'s investment portfolio, making the stock its 19th largest position. First Citizens Bank & Trust Co.'s holdings in JPMorgan Chase & Co. were worth $32,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in JPM. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $8,310,884,000. GAMMA Investing LLC raised its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Northern Trust Corp lifted its stake in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. Proficio Capital Partners LLC grew its holdings 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 worth $838,865,000 after acquiring an additional 3,489,314 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in JPMorgan Chase & Co. by 31.4% during 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 valued at $2,561,256,000 after purchasing an additional 2,551,899 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer now directly owns 18,017 shares in the company, 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 101,722 shares of company stock valued at $25,599,477 in the last ninety days. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on JPM shares. Bank of America dropped their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. TD Cowen began coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. UBS Group upped their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $269.65.

JPMorgan Chase & Co. Stock Performance

JPM stock traded down $0.14 during midday trading on Thursday, reaching $268.01. The stock had a trading volume of 4,409,287 shares, compared to its average volume of 10,329,073. The firm has a fifty day simple moving average of $250.05 and a two-hundred day simple moving average of $250.34. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market cap of $744.82 billion, a PE ratio of 13.58, a P/E/G ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period in the prior year, the company earned $4.44 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 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.