First PREMIER Bank Sells 893 Shares of JPMorgan Chase & Co. (NYSE:JPM)

First PREMIER Bank lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,768 shares of the financial services provider's stock after selling 893 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of First PREMIER Bank's portfolio, making the stock its 15th biggest position. First PREMIER Bank's holdings in JPMorgan Chase & Co. were worth $6,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of 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 buying an additional 876,417 shares during the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. Northern Trust Corp grew its position in shares of 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 grew its position in shares of 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 grew its position in shares of 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.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the transaction, the chief operating officer now directly owns 68,583 shares of the company's stock, valued at $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel now directly owns 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 over the last three months. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank Of Canada reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Tuesday, June 10th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Finally, Morgan Stanley upped their target price on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $271.90.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $281.18 on Wednesday. The company has a market cap of $781.42 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 2.59 and a beta of 1.08. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $282.72. The business has a 50 day moving average price of $258.21 and a 200-day moving average price of $251.92. 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. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.44 earnings per share. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

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.