Victory Capital Management Inc. Sells 207,723 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Victory Capital Management Inc. decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,476,264 shares of the financial services provider's stock after selling 207,723 shares during the period. JPMorgan Chase & Co. accounts for about 0.6% of Victory Capital Management Inc.'s holdings, making the stock its 12th biggest position. Victory Capital Management Inc. owned about 0.09% of JPMorgan Chase & Co. worth $607,427,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $33,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Institutional investors own 71.55% of the company's stock.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were 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 owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 0.2%

Shares of NYSE JPM opened at $290.68 on Tuesday. The company has a market cap of $807.81 billion, a PE ratio of 14.91, a P/E/G ratio of 2.53 and a beta of 1.10. The firm's 50 day moving average price is $274.67 and its 200-day moving average price is $258.17. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced 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. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the company posted $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research note on Friday, June 27th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Finally, TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

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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