Shufro Rose & Co. LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Shufro Rose & Co. LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,869 shares of the financial services provider's stock after selling 2,435 shares during the quarter. JPMorgan Chase & Co. accounts for 2.3% of Shufro Rose & Co. LLC's investment portfolio, making the stock its 13th largest holding. Shufro Rose & Co. LLC's holdings in JPMorgan Chase & Co. were worth $29,213,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of JPM. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $29,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JPM. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Bank of America dropped their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating for the company. Finally, TD Securities increased their target price on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.65.

Insiders Place Their Bets

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. This represents a 15.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jennifer Piepszak sold 4,272 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the transaction, the chief operating officer now owns 50,197 shares in the company, valued at approximately $12,400,164.91. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock valued at $23,991,061 in the last ninety days. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPMorgan Chase & Co. stock traded down $1.83 during mid-day trading on Wednesday, hitting $263.46. 5,524,614 shares of the stock were exchanged, compared to its average volume of 9,561,090. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The stock has a market capitalization of $732.18 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a 50-day simple moving average of $244.84 and a 200 day simple moving average of $248.69. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly 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 20.96% and a return on equity of 16.99%. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same period last year, the company earned $4.44 EPS. The firm's revenue for the quarter was up 8.0% 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 declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.13%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

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.