GSB Wealth Management LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

GSB Wealth Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,163 shares of the financial services provider's stock after selling 1,055 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.9% of GSB Wealth Management LLC's holdings, making the stock its 28th biggest position. GSB Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $3,474,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in JPM. Fourth Dimension Wealth LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $471,000. Disciplined Investments LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $217,000. LGT Group Foundation boosted its position in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock worth $126,040,000 after buying an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. grew its stake in JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock valued at $10,483,000 after acquiring an additional 4,375 shares during the last quarter. Finally, Jag Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 10.5% during the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 140 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer now directly owns 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 1.6%

Shares of NYSE JPM opened at $273.83 on Friday. The stock has a market capitalization of $760.98 billion, a PE ratio of 13.44, a P/E/G ratio of 2.76 and a beta of 1.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a fifty day moving average of $255.59 and a 200-day moving average of $251.19. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results 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. The firm 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 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 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company 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 dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Robert W. Baird upped their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. UBS Group raised their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective on the stock. Finally, TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $271.70.

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.

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