NorthCrest Asset Manangement LLC Sells 1,077 Shares of JPMorgan Chase & Co. (NYSE:JPM)

NorthCrest Asset Manangement LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,095 shares of the financial services provider's stock after selling 1,077 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.6% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 7th biggest holding. NorthCrest Asset Manangement LLC's holdings in JPMorgan Chase & Co. were worth $55,156,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $29,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $37,000. Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

JPM traded down $0.40 during midday trading on Friday, reaching $263.97. 10,976,619 shares of the company's stock were exchanged, compared to its average volume of 9,584,167. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The business has a 50-day simple moving average of $245.86 and a two-hundred day simple moving average of $249.13. The firm has a market capitalization of $733.60 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $4.44 EPS. As a group, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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 issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. Evercore ISI reduced their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Finally, KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating for the company. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $266.65.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of the 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 sale, the general counsel now owns 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now owns 133,381 shares of the company's stock, valued at $32,947,774.62. The trade was a 15.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,594 shares of company stock worth $23,991,061. Insiders own 0.47% of the company's stock.

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.