True North Advisors LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

True North Advisors LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,659 shares of the financial services provider's stock after selling 2,344 shares during the period. JPMorgan Chase & Co. makes up approximately 0.9% of True North Advisors LLC's portfolio, making the stock its 19th largest position. True North Advisors LLC's holdings in JPMorgan Chase & Co. were worth $5,068,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $30,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. during the first quarter valued at $33,000. Measured Risk Portfolios Inc. purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $54,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM opened at $290.49 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $798.78 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.95 and a beta of 1.11. The company has a fifty day moving average of $285.29 and a 200 day moving average of $263.25. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the business posted $6.12 earnings per share. The business's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. HSBC restated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research 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 research note on Monday, June 30th. Finally, UBS Group upped their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on 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 transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,557 shares of company stock worth $4,113,796. Corporate insiders own 0.47% of the company's stock.

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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