Rhumbline Advisers Sells 58,452 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Rhumbline Advisers reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,113,805 shares of the financial services provider's stock after selling 58,452 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of Rhumbline Advisers' investment portfolio, making the stock its 11th largest position. Rhumbline Advisers owned about 0.18% of JPMorgan Chase & Co. worth $1,254,416,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Redwood Park Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $37,000. Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. Finally, Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.2%

JPM traded up $0.46 during trading on Monday, reaching $264.46. 6,008,253 shares of the stock traded hands, compared to its average volume of 9,550,450. The stock has a market cap of $734.96 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The stock's 50-day simple moving average is $245.86 and its two-hundred day simple moving average is $249.24.

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

JPMorgan Chase & Co. Announces Dividend

The business 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. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.12%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on JPM shares. Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price for the company. Evercore ISI lowered their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, TD Securities raised their target price on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and a consensus target price of $267.15.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. The trade was a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the transaction, the general counsel now owns 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,594 shares of company stock worth $23,991,061. Company 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.