Thornburg Investment Management Inc. Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Thornburg Investment Management Inc. decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 577,895 shares of the financial services provider's stock after selling 71,325 shares during the quarter. JPMorgan Chase & Co. makes up 2.0% of Thornburg Investment Management Inc.'s portfolio, making the stock its 13th largest position. Thornburg Investment Management Inc.'s holdings in JPMorgan Chase & Co. were worth $141,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at about $19,496,000. FSA Advisors Inc. lifted its stake in JPMorgan Chase & Co. by 143.0% in the first quarter. FSA Advisors Inc. now owns 2,972 shares of the financial services provider's stock worth $729,000 after acquiring an additional 1,749 shares during the period. Federated Hermes Inc. lifted its stake in JPMorgan Chase & Co. by 58.4% in the first quarter. Federated Hermes Inc. now owns 634,004 shares of the financial services provider's stock worth $155,521,000 after acquiring an additional 233,777 shares during the period. Geneos Wealth Management Inc. lifted its stake in JPMorgan Chase & Co. by 18.8% in the first quarter. Geneos Wealth Management Inc. now owns 68,889 shares of the financial services provider's stock worth $16,898,000 after acquiring an additional 10,896 shares during the period. Finally, N.E.W. Advisory Services LLC lifted its stake in JPMorgan Chase & Co. by 1.5% in the first quarter. N.E.W. Advisory Services LLC now owns 8,539 shares of the financial services provider's stock worth $2,095,000 after acquiring an additional 129 shares during the period. Institutional investors own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on JPM shares. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,557 shares of company stock worth $4,113,796. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Up 0.0%

Shares of JPM traded up $0.07 during mid-day trading on Wednesday, hitting $291.44. 6,326,839 shares of the company traded hands, compared to its average volume of 10,062,375. JPMorgan Chase & Co. has a 1-year low of $200.20 and a 1-year high of $301.29. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $809.93 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The business has a 50 day moving average of $282.23 and a 200 day moving average of $262.14.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were given a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

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.