Madison Asset Management LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 153,654 shares of the financial services provider's stock after selling 5,353 shares during the period. Madison Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $37,691,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in JPM. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after buying an additional 876,417 shares in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp raised its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. Bank of New York Mellon Corp lifted its position in shares of JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.
Insider Activity
In related news, COO Jennifer Piepszak sold 6,129 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the transaction, the chief operating officer owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 91,539 shares in the company, valued at $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last 90 days. Insiders own 0.47% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. KGI Securities began coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. HSBC reissued a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $288.68.
View Our Latest Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Down 0.1%
JPM opened at $298.22 on Tuesday. The firm has a market cap of $828.78 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The business has a 50 day moving average price of $278.35 and a 200 day moving average price of $260.40. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $299.59.
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 EPS for the quarter, beating 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 company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the firm posted $6.12 earnings per share. The company's quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.88%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.
About JPMorgan Chase & Co.
(
Free Report)
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.
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