Gradient Investments LLC Has $45.98 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Gradient Investments LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,422 shares of the financial services provider's stock after acquiring an additional 14,129 shares during the period. Gradient Investments LLC's holdings in JPMorgan Chase & Co. were worth $45,975,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased 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 worth $14,161,171,000 after buying an additional 876,417 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp grew its stake in shares of 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 last quarter. GAMMA Investing LLC grew its stake 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 worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors increased its position in JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. This trade represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction 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. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock worth $23,991,061 over the last ninety days. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley reissued an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Evercore ISI decreased their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Finally, Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $267.15.

JPMorgan Chase & Co. Stock Down 0.7%

Shares of JPM traded down $1.89 during midday trading on Wednesday, hitting $264.38. The stock had a trading volume of 5,798,986 shares, compared to its average volume of 9,538,217. The firm has a market cap of $734.74 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a 50 day simple moving average of $246.48 and a two-hundred day simple moving average of $249.49. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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 business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.44 EPS. On average, 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. 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 2.12%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

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.