JPMorgan Chase & Co. (NYSE:JPM) Holdings Cut by Sitrin Capital Management LLC

Sitrin Capital Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,722 shares of the financial services provider's stock after selling 7,245 shares during the period. JPMorgan Chase & Co. accounts for 3.9% of Sitrin Capital Management LLC's holdings, making the stock its 7th biggest holding. Sitrin Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $7,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $33,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $43,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM traded down $1.41 during midday trading on Friday, reaching $286.78. The company had a trading volume of 7,378,197 shares, compared to its average volume of 9,554,021. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $796.99 billion, a PE ratio of 14.08, a P/E/G ratio of 2.64 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The business has a 50-day moving average price of $270.98 and a two-hundred day moving average price of $256.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. JPMorgan Chase & Co.'s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.44 EPS. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on JPM. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a report on Friday, June 27th. Finally, KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average price target of $284.42.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by corporate insiders.

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.