Securian Asset Management Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,115 shares of the financial services provider's stock after selling 3,197 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.1% of Securian Asset Management Inc.'s investment portfolio, making the stock its 16th biggest holding. Securian Asset Management Inc.'s holdings in JPMorgan Chase & Co. were worth $36,333,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $471,000. Crown Wealth Group LLC increased its position in JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after acquiring an additional 222 shares during the period. Hidden Cove Wealth Management LLC increased its position in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after acquiring an additional 112 shares during the period. Aaron Wealth Advisors LLC increased its position in JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider's stock worth $4,953,000 after acquiring an additional 1,218 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in JPMorgan Chase & Co. by 11.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider's stock worth $3,838,000 after acquiring an additional 1,561 shares during the period. Institutional investors own 71.55% of the company's stock.
Insider Activity at JPMorgan Chase & Co.
In related news, COO Jennifer Piepszak sold 6,129 shares of the business's 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 transaction, the chief operating officer directly owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction dated 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 completion of the transaction, the general counsel directly owned 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 over the last quarter. Corporate insiders own 0.47% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on JPM shares. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average price target of $288.68.
Check Out Our Latest Stock Analysis on JPMorgan Chase & Co.
JPMorgan Chase & Co. Price Performance
JPM opened at $291.22 on Friday. 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 company has a market capitalization of $809.33 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 2.54 and a beta of 1.10. The firm's fifty day moving average price is $274.67 and its two-hundred day moving average price is $258.05. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.12 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
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 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.
JPMorgan Chase & Co. Company Profile
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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.
See Also
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