Highland Capital Management LLC Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Highland Capital Management LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,798 shares of the financial services provider's stock after selling 10,102 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.4% of Highland Capital Management LLC's holdings, making the stock its 5th biggest position. Highland Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $40,180,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $8,310,884,000. GAMMA Investing LLC grew its stake in shares of JPMorgan Chase & Co. by 25,861.9% during 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 acquiring an additional 23,465,278 shares during the period. Northern Trust Corp grew its stake in shares of JPMorgan Chase & Co. by 15.4% during 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 acquiring an additional 4,515,147 shares during the period. Proficio Capital Partners LLC grew its stake in shares of 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 valued at $838,865,000 after acquiring an additional 3,489,314 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of 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 acquiring an additional 2,551,899 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% 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. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.4%

NYSE:JPM traded up $4.13 during midday trading on Friday, hitting $296.13. 6,541,646 shares of the company traded hands, compared to its average volume of 9,533,583. The firm's fifty day moving average is $266.97 and its 200-day moving average is $254.73. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The firm has a market capitalization of $822.96 billion, a P/E ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.

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 EPS for the quarter, beating the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion for 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%. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.44 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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 given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

JPM has been the subject of a number of recent research reports. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a research note on Friday, June 27th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, UBS Group upped their price target 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $277.74.

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.