Sawgrass Asset Management LLC Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sawgrass Asset Management LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,216 shares of the financial services provider's stock after selling 1,119 shares during the period. Sawgrass Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $4,223,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Capital & Planning LLC boosted its holdings in JPMorgan Chase & Co. by 13.3% in the 4th quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider's stock worth $565,000 after acquiring an additional 276 shares during the period. Brighton Jones LLC boosted its stake in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $66,088,000. SOA Wealth Advisors LLC. grew its holdings in JPMorgan Chase & Co. by 1.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock valued at $5,115,000 after purchasing an additional 255 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after buying an additional 1,229 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the sale, the chief operating officer now owns 68,583 shares of the company's stock, valued at $17,197,873.08. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, the chief financial officer now owns 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. In the last 90 days, insiders have sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on JPM shares. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. TD Cowen began coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. Evercore ISI lowered their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Royal Bank Of Canada restated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Finally, KGI Securities assumed coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating for the company. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $273.15.

JPMorgan Chase & Co. Trading Up 1.7%

NYSE JPM opened at $288.88 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $289.41. The company has a 50-day simple moving average of $260.44 and a 200-day simple moving average of $252.45. The firm has a market capitalization of $802.81 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter last year, the company posted $4.44 earnings per share. JPMorgan Chase & Co.'s revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

JPMorgan Chase & Co. 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.

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