Migdal Insurance & Financial Holdings Ltd. Sells 1,360 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 252,344 shares of the financial services provider's stock after selling 1,360 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in JPMorgan Chase & Co. were worth $61,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $8,310,884,000. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on JPM shares. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Three research 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's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director owned 91,539 shares of the company's stock, valued at $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of JPM traded up $1.91 on Friday, reaching $298.46. The stock had a trading volume of 5,918,228 shares, compared to its average volume of 9,347,400. The firm has a market capitalization of $829.45 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The company has a 50-day simple moving average of $277.68 and a 200-day simple moving average of $259.88. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $299.59.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results 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 analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $6.12 EPS. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

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.