Trust Point Inc. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Trust Point Inc. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,989 shares of the financial services provider's stock after selling 4,356 shares during the period. JPMorgan Chase & Co. makes up approximately 0.5% of Trust Point Inc.'s holdings, making the stock its 26th biggest position. Trust Point Inc.'s holdings in JPMorgan Chase & Co. were worth $5,394,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of JPM. Capital & Planning LLC lifted its stake in shares of JPMorgan Chase & Co. by 13.3% in the 4th quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider's stock worth $565,000 after purchasing an additional 276 shares during the period. Brighton Jones LLC lifted its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. Union Bancaire Privee UBP SA bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $66,088,000. SOA Wealth Advisors LLC. increased its holdings in JPMorgan Chase & Co. by 1.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock worth $5,115,000 after acquiring an additional 255 shares in the last quarter. Finally, Richard C. Young & CO. LTD. increased its holdings in JPMorgan Chase & Co. by 36.1% in the 4th quarter. Richard C. Young & CO. LTD. now owns 71,250 shares of the financial services provider's stock worth $17,079,000 after acquiring an additional 18,901 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction 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 completion of the sale, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 4,272 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.03, for a total value of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares of the company's stock, valued at approximately $12,400,164.91. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,722 shares of company stock worth $25,599,477 over the last three months. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

JPM has been the subject of several analyst reports. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday. Royal Bank Of Canada reissued a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Robert W. Baird increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, May 20th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $271.70.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM traded up $4.31 during midday trading on Thursday, reaching $273.83. 9,583,437 shares of the stock traded hands, compared to its average volume of 9,523,464. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $760.98 billion, a PE ratio of 13.44, a P/E/G ratio of 2.76 and a beta of 1.08. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $280.25. The company's 50 day moving average is $254.66 and its 200 day moving average is $251.00.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.44 EPS. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.05%. 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.