Kentucky Retirement Systems Insurance Trust Fund Sells 51,392 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 38.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,732 shares of the financial services provider's stock after selling 51,392 shares during the period. JPMorgan Chase & Co. makes up approximately 1.4% of Kentucky Retirement Systems Insurance Trust Fund's holdings, making the stock its 11th largest holding. Kentucky Retirement Systems Insurance Trust Fund's holdings in JPMorgan Chase & Co. were worth $20,049,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. DDD Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 2.8% in the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider's stock valued at $339,000 after acquiring an additional 38 shares during the period. Blue Bell Private Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock valued at $622,000 after acquiring an additional 38 shares during the period. Hurlow Wealth Management Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock valued at $1,328,000 after acquiring an additional 40 shares during the period. Wimmer Associates 1 LLC lifted its position in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares during the period. Finally, Twin Lakes Capital Management LLC lifted its position in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after purchasing an additional 40 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. UBS Group upped their price objective 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. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Citigroup reaffirmed a "neutral" rating and set a $275.00 price objective (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday. Finally, Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus target price of $273.15.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction that occurred 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 sale, the chief operating officer now owns 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the sale, the general counsel now directly owns 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPMorgan Chase & Co. stock traded down $1.45 on Friday, hitting $287.31. The stock had a trading volume of 17,851,223 shares, compared to its average volume of 9,513,055. The stock has a 50 day moving average of $261.55 and a 200 day moving average of $252.90. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $289.41. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $798.45 billion, a P/E ratio of 14.10, a PEG ratio of 2.67 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.44 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

About JPMorgan Chase & Co.

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.