Principal Street Partners LLC Sells 4,385 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Principal Street Partners LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,719 shares of the financial services provider's stock after selling 4,385 shares during the period. JPMorgan Chase & Co. makes up 1.7% of Principal Street Partners LLC's investment portfolio, making the stock its 9th largest holding. Principal Street Partners LLC's holdings in JPMorgan Chase & Co. were worth $8,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. UBS Group lifted their target price on shares of 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 Securities lifted their price target on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a "buy" rating in a report on Tuesday. Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Finally, Royal Bank of Canada lifted their price target on shares of JPMorgan Chase & Co. from $255.00 to $285.00 and gave the stock an "outperform" rating in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $266.20.

JPMorgan Chase & Co. Trading Down 0.2%

JPM traded down $0.54 during trading on Thursday, hitting $260.50. 6,507,221 shares of the company's stock were exchanged, compared to its average volume of 9,582,211. The stock has a 50 day moving average price of $242.84 and a 200 day moving average price of $247.77. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a market cap of $723.95 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the previous year, the company posted $4.44 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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 given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.15%. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company'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 sale, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at $32,947,774.62. This represents a 15.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robin Leopold sold 1,250 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48% 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 valued at $23,991,061 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

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.