Jennison Associates LLC Sells 124,570 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Jennison Associates LLC lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,611,965 shares of the financial services provider's stock after selling 124,570 shares during the period. Jennison Associates LLC owned approximately 0.06% of JPMorgan Chase & Co. worth $395,415,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in JPM. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $8,310,884,000. GAMMA Investing LLC grew its stake in JPMorgan Chase & Co. by 25,861.9% during 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 purchasing an additional 23,465,278 shares during the period. Northern Trust Corp grew its stake in JPMorgan Chase & Co. by 15.4% during 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 purchasing an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on JPM shares. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. KGI Securities started coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating for the company. Keefe, Bruyette & Woods boosted their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, HSBC restated a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Stock Performance

JPM stock traded up $1.91 during midday trading on Friday, hitting $298.46. The company's stock had a trading volume of 5,918,228 shares, compared to its average volume of 9,347,400. The stock's 50-day moving average price is $277.68 and its 200 day moving average price is $259.88. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $299.59. The stock has a market cap of $829.45 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.02 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the previous year, the firm earned $6.12 earnings per share. The business's revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast 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. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.88%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. Corporate 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.