Klingenstein Fields & Co. LP Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Klingenstein Fields & Co. LP decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 205,552 shares of the financial services provider's stock after selling 1,699 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.1% of Klingenstein Fields & Co. LP's investment portfolio, making the stock its 13th biggest holding. Klingenstein Fields & Co. LP's holdings in JPMorgan Chase & Co. were worth $50,422,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on JPM. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Baird R W lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Wells Fargo & Company restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Monday. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating on the stock. Finally, Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $280.45.

JPMorgan Chase & Co. Stock Performance

JPM stock traded up $4.98 during midday trading on Thursday, reaching $288.14. 8,404,198 shares of the company's stock traded hands, compared to its average volume of 9,567,150. The company has a 50-day moving average price of $270.30 and a two-hundred day moving average price of $255.98. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The firm has a market capitalization of $800.76 billion, a PE ratio of 14.15, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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 net margin of 21.21% and a return on equity of 16.88%. The business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter in the previous year, the firm posted $4.44 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the transaction, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares of the company's stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by insiders.

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.