NorthCrest Asset Manangement LLC Has $53.70 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

NorthCrest Asset Manangement LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,903 shares of the financial services provider's stock after selling 11,192 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.6% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 6th largest position. NorthCrest Asset Manangement LLC's holdings in JPMorgan Chase & Co. were worth $53,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 1.3%

Shares of JPM stock traded down $3.52 during mid-day trading on Friday, reaching $264.72. The company's stock had a trading volume of 7,095,259 shares, compared to its average volume of 9,533,023. The company's 50 day simple moving average is $252.10 and its 200-day simple moving average is $250.57. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $280.25. 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 firm has a market capitalization of $735.69 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08.

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

JPMorgan Chase & Co. Announces Dividend

The company 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. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. The trade was a 15.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,722 shares of company stock worth $25,599,477. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JPM. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Morgan Stanley reaffirmed an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating for the company. Finally, Bank of America dropped their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and an average target price of $269.65.

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.