Foundry Partners LLC Sells 45,651 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Foundry Partners LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 19.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 186,466 shares of the financial services provider's stock after selling 45,651 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.4% of Foundry Partners LLC's portfolio, making the stock its largest position. Foundry Partners LLC's holdings in JPMorgan Chase & Co. were worth $45,740,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JPM. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $29,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth $33,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. UBS Group upped their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. This represents a 9.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Up 0.6%

NYSE JPM traded up $1.91 during mid-day trading on Friday, reaching $298.46. 5,918,228 shares of the stock were exchanged, compared to its average volume of 9,347,400. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $299.59. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The stock has a market cap of $829.45 billion, a P/E ratio of 15.31, a P/E/G ratio of 2.01 and a beta of 1.10. The stock has a 50 day simple moving average of $277.68 and a 200-day simple moving average of $259.76.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results 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 net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the previous year, the company earned $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.88%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

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.