JPMorgan Chase & Co. (NYSE:JPM) Position Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,197,070 shares of the financial services provider's stock after selling 3,634,020 shares during the quarter. JPMorgan Chase & Co. makes up about 1.5% of Massachusetts Financial Services Co. MA's holdings, making the stock its 7th biggest position. Massachusetts Financial Services Co. MA owned approximately 0.65% of JPMorgan Chase & Co. worth $4,463,741,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of JPM. Hurlow Wealth Management Group Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after acquiring an additional 40 shares during the period. Wimmer Associates 1 LLC increased its position in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after purchasing an additional 40 shares in the last quarter. Rockbridge Investment Management LCC increased its position in JPMorgan Chase & Co. by 2.3% in the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock valued at $441,000 after acquiring an additional 41 shares in the last quarter. Finally, WorthPointe LLC increased its position in JPMorgan Chase & Co. by 2.9% in the 4th quarter. WorthPointe LLC now owns 1,546 shares of the financial services provider's stock valued at $371,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on JPM. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $0.63 during trading on Tuesday, reaching $291.60. The company's stock had a trading volume of 6,709,787 shares, compared to its average volume of 9,504,580. The business's 50-day moving average price is $274.67 and its 200-day moving average price is $258.17. The firm has a market cap of $810.38 billion, a PE ratio of 14.96, a P/E/G ratio of 2.53 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

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 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter in the prior year, the business posted $6.12 earnings per share. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast 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 will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were 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 owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

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.