JPMorgan Chase & Co. (NYSE:JPM) Position Trimmed by Garland Capital Management Inc.

Garland Capital Management Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 25,655 shares of the financial services provider's stock after selling 4,580 shares during the period. JPMorgan Chase & Co. accounts for 5.9% of Garland Capital Management Inc.'s investment portfolio, making the stock its 2nd largest position. Garland Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $6,293,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JPM. Bank of America boosted their price objective on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Royal Bank Of Canada reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Finally, Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average price target of $271.90.

JPMorgan Chase & Co. Trading Up 1.0%

JPMorgan Chase & Co. stock traded up $2.88 during trading hours on Wednesday, reaching $284.14. The company had a trading volume of 6,825,385 shares, compared to its average volume of 9,491,679. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $284.28. The company has a 50-day moving average price of $259.29 and a 200 day moving average price of $252.14. The firm has a market cap of $789.65 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 2.63 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter last year, the business earned $4.44 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Activity

In related news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was 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 now owns 18,017 shares of the company's stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director now owns 91,539 shares in the company, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock valued at $18,060,015. 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.