Private Management Group Inc. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,600 shares of the financial services provider's stock after selling 33,885 shares during the quarter. Private Management Group Inc.'s holdings in JPMorgan Chase & Co. were worth $23,451,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $29,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the first quarter worth about $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. 71.55% of the stock is currently owned by institutional investors.
JPMorgan Chase & Co. Stock Up 0.9%
NYSE JPM traded up $2.59 on Wednesday, hitting $299.63. The stock had a trading volume of 8,046,594 shares, compared to its average volume of 8,322,348. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $301.29. The business's fifty day moving average price is $279.75 and its 200 day moving average price is $260.92. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The stock has a market cap of $832.70 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data 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. 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 the consensus estimate of $43.76 billion. During the same quarter in the prior year, the firm posted $6.12 earnings per share. The company's revenue was down 10.5% compared to the same quarter last year. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.87%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.
Analysts Set New Price Targets
JPM has been the topic of a number of research analyst reports. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.
Check Out Our Latest Report on JPMorgan Chase & Co.
Insider Activity
In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were 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 in the company, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last quarter. Company insiders own 0.47% of the company's stock.
About JPMorgan Chase & Co.
(
Free Report)
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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