Smith Group Asset Management LLC Has $27.81 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Smith Group Asset Management LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,360 shares of the financial services provider's stock after acquiring an additional 2,863 shares during the quarter. JPMorgan Chase & Co. comprises approximately 2.1% of Smith Group Asset Management LLC's investment portfolio, making the stock its 17th biggest holding. Smith Group Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $27,807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Geode Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after acquiring an additional 876,417 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $8,310,884,000. Northern Trust Corp boosted its stake in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC boosted its stake in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.4%

JPM traded down $4.05 during trading on Monday, reaching $291.95. 8,790,826 shares of the stock were exchanged, compared to its average volume of 9,530,609. The stock has a market cap of $811.36 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.49. The stock's 50 day moving average price is $266.97 and its two-hundred day moving average price is $254.88. 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. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 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 during the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the previous year, the business posted $4.44 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.92%. JPMorgan Chase & Co.'s dividend payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on JPM shares. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday. Finally, KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $277.74.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated 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 completion of the sale, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by company insiders.

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.