First Fiduciary Investment Counsel Inc. Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

First Fiduciary Investment Counsel Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,220 shares of the financial services provider's stock after selling 9,290 shares during the quarter. JPMorgan Chase & Co. comprises 7.1% of First Fiduciary Investment Counsel Inc.'s investment portfolio, making the stock its biggest holding. First Fiduciary Investment Counsel Inc.'s holdings in JPMorgan Chase & Co. were worth $32,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. Geode Capital Management LLC lifted its position in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after acquiring an additional 876,417 shares in the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. Northern Trust Corp increased its stake in JPMorgan Chase & Co. by 15.4% in 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 buying an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC increased its stake in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock valued at $5,475,223,000 after buying an additional 1,914,049 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the subject of several analyst reports. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Finally, Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $280.00 to $298.00 and gave the company an "outperform" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and an average price target of $277.74.

JPMorgan Chase & Co. Price Performance

JPM traded up $4.13 during trading on Friday, reaching $296.13. 6,541,646 shares of the company were exchanged, compared to its average volume of 9,533,583. The company's 50-day moving average is $266.97 and its two-hundred day moving average is $254.73. The company has a market cap of $822.96 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.44 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued 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 yield of 1.89%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling

In related news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated 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 owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated 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 directly owned 91,539 shares in the company, valued at $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company's stock.

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.