Villere ST Denis J & Co. LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,738 shares of the financial services provider's stock after selling 3,924 shares during the quarter. JPMorgan Chase & Co. makes up approximately 5.0% of Villere ST Denis J & Co. LLC's portfolio, making the stock its largest holding. Villere ST Denis J & Co. LLC's holdings in JPMorgan Chase & Co. were worth $52,185,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of JPM. Geode Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $8,310,884,000. Northern Trust Corp grew its stake in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in shares of JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after purchasing an additional 1,914,049 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.
JPMorgan Chase & Co. Price Performance
Shares of JPM traded down $4.05 during mid-day trading on Monday, reaching $291.95. The company had a trading volume of 8,727,950 shares, compared to its average volume of 9,530,473. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.49. 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 company's 50-day moving average is $266.97 and its 200-day moving average is $254.88. The company has a market capitalization of $811.36 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.75 and a beta of 1.10.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $43.62 billion. During the same period in the prior year, the firm earned $4.44 earnings per share. The company's quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
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 issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. JPMorgan Chase & Co.'s dividend payout ratio is 27.49%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on JPM. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Morgan Stanley set a $240.00 price target on shares of JPMorgan Chase & Co. and gave the company an "equal weight" rating in a research report on Monday. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $277.74.
Check Out Our Latest Stock Analysis on JPM
Insiders Place Their Bets
In other news, COO Jennifer Piepszak sold 6,129 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the sale, the chief operating officer owned 68,583 shares in the company, valued at $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the sale, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders 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.
(
Free Report)
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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