Kornitzer Capital Management Inc. KS Has $25.55 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Kornitzer Capital Management Inc. KS trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,143 shares of the financial services provider's stock after selling 1,154 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in JPMorgan Chase & Co. were worth $25,546,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of JPM. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the first quarter valued at about $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 0.2%

JPM stock opened at $290.68 on Tuesday. The company's 50 day simple moving average is $274.67 and its 200-day simple moving average is $258.17. The firm has a market capitalization of $807.81 billion, a PE ratio of 14.91, a P/E/G ratio of 2.53 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $6.12 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed 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. This represents a $5.60 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Wall Street Analyst Weigh In

JPM has been the topic of several analyst reports. UBS Group lifted their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction dated 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 completion of 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company 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.

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