Sutton Place Investors LLC Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Sutton Place Investors LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 56.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,550 shares of the financial services provider's stock after selling 8,497 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.1% of Sutton Place Investors LLC's holdings, making the stock its 28th biggest holding. Sutton Place Investors LLC's holdings in JPMorgan Chase & Co. were worth $1,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $29,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth approximately $33,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on JPM shares. 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 report on Monday, June 30th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday. Keefe, Bruyette & Woods raised shares of JPMorgan Chase & Co. from a "market perform" rating to an "outperform" rating and set a $327.00 price objective on the stock in a report on Wednesday. Wells Fargo & Company reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Finally, HSBC reissued a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $284.42.

Insider Activity

In related news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on 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 transaction, the chief financial officer owned 18,017 shares in the company, valued at approximately $4,518,123.09. This trade 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. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $286.78 on Friday. The firm's fifty day moving average price is $270.98 and its 200 day moving average price is $256.29. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $796.99 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating 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 analyst estimates of $43.62 billion. During the same period last year, the firm posted $4.44 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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 $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

JPMorgan Chase & Co. Company 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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