JPMorgan Chase & Co. (NYSE:JPM) Position Decreased by Wittenberg Investment Management Inc.

Key Points

• Wittenberg Investment Management Inc. reduced its stake in JPMorgan Chase & Co. by 31.6% in the 1st quarter, now holding 21,920 shares worth approximately $5,377,000.
• JPMorgan Chase & Co. reported $4.96 earnings per share, surpassing analysts' estimates, with a revenue of $44.91 billion for the quarter.
• The company announced a quarterly dividend of $1.40 per share, representing an annualized yield of 1.9%, with a low payout ratio of 28.73%.

Wittenberg Investment Management Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 31.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,920 shares of the financial services provider's stock after selling 10,133 shares during the period. JPMorgan Chase & Co. comprises approximately 2.4% of Wittenberg Investment Management Inc.'s holdings, making the stock its 9th largest position. Wittenberg Investment Management Inc.'s holdings in JPMorgan Chase & Co. were worth $5,377,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $30,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Measured Risk Portfolios Inc. bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $44,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.2%

Shares of NYSE JPM traded up $3.50 during midday trading on Thursday, reaching $294.03. 4,452,366 shares of the stock were exchanged, compared to its average volume of 9,937,850. The company has a 50 day simple moving average of $285.29 and a 200 day simple moving average of $263.25. The stock has a market capitalization of $808.52 billion, a P/E ratio of 15.09, a PEG ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a twelve month low of $200.61 and a twelve month high of $301.29.

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 analysts' consensus estimates 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 firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter last year, the company posted $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JPM. TD Securities reissued 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 objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the transaction, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,557 shares of company stock worth $4,113,796 over the last quarter. 0.47% of the stock is owned by company insiders.

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.