Cardinal Capital Management Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 83.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 855 shares of the financial services provider's stock after selling 4,380 shares during the quarter. Cardinal Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $210,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of JPM. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $43,000. 71.55% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on JPM shares. Robert W. Baird lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Tuesday. UBS Group raised their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Evercore ISI reduced their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $269.65.
Check Out Our Latest Analysis on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Down 1.3%
NYSE:JPM traded down $3.52 during trading hours on Friday, reaching $264.72. 7,095,259 shares of the stock were exchanged, compared to its average volume of 9,533,023. The firm has a 50 day moving average of $252.10 and a 200 day moving average of $250.56. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The stock has a market cap of $735.69 billion, a PE ratio of 13.41, a PEG ratio of 2.83 and a beta of 1.08. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $280.25.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.
Insider Activity
In other JPMorgan Chase & Co. news, 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 transaction of $10,034,310.78. Following the transaction, the chief financial officer now owns 18,017 shares of the company's stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is owned by insiders.
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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