Pettee Investors Inc. Has $11.19 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Pettee Investors Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,596 shares of the financial services provider's stock after selling 15,941 shares during the period. JPMorgan Chase & Co. makes up approximately 6.7% of Pettee Investors Inc.'s investment portfolio, making the stock its biggest position. Pettee Investors Inc.'s holdings in JPMorgan Chase & Co. were worth $11,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. Norges Bank bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth $8,310,884,000. GAMMA Investing LLC lifted its stake in JPMorgan Chase & Co. by 25,861.9% during the first 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 last quarter. Northern Trust Corp lifted its stake in 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 worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of JPM traded up $1.91 during trading hours on Friday, hitting $298.46. The stock had a trading volume of 5,918,228 shares, compared to its average volume of 9,347,400. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $277.68 and a 200-day simple moving average of $259.88. The firm has a market capitalization of $829.45 billion, a P/E ratio of 15.31, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $299.59.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.12 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the business'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 $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock valued at $18,060,015. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. 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.