JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Gruss & Co. LLC

Gruss & Co. LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 100.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the financial services provider's stock after acquiring an additional 1,000 shares during the period. JPMorgan Chase & Co. makes up 2.1% of Gruss & Co. LLC's portfolio, making the stock its 8th biggest position. Gruss & Co. LLC's holdings in JPMorgan Chase & Co. were worth $491,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in 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 buying an additional 4,841 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE boosted its holdings in JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after purchasing an additional 1,893 shares during the last quarter. KKM Financial LLC grew its stake in JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after purchasing an additional 640 shares in the last quarter. Finally, Selway Asset Management increased its holdings in JPMorgan Chase & Co. by 0.5% during the 4th quarter. Selway Asset Management now owns 40,507 shares of the financial services provider's stock worth $9,710,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the subject of several recent analyst reports. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the sale, the general counsel directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,557 shares of company stock worth $4,113,796. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.6%

Shares of NYSE:JPM traded up $1.61 during midday trading on Friday, reaching $288.55. The company had a trading volume of 6,633,369 shares, compared to its average volume of 10,026,404. The company has a fifty day simple moving average of $283.24 and a two-hundred day simple moving average of $262.53. The firm has a market cap of $801.91 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88.

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 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.12 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

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.