World Equity Group Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 50.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,616 shares of the financial services provider's stock after selling 6,680 shares during the quarter. World Equity Group Inc.'s holdings in JPMorgan Chase & Co. were worth $1,613,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its position 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 purchasing an additional 876,417 shares during the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $8,310,884,000. Northern Trust Corp raised its position 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 acquiring an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC raised its position 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 acquiring an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of JPMorgan Chase & Co. by 9.1% in 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 acquiring an additional 1,914,049 shares during the period. 71.55% of the stock is currently owned by institutional investors.
Insider Activity at JPMorgan Chase & Co.
In related news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 transaction, the chief operating officer now owns 68,583 shares of the company's stock, valued at $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer now directly owns 18,017 shares of the company's stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by corporate insiders.
JPMorgan Chase & Co. Stock Up 1.0%
Shares of JPM traded up $2.88 during trading hours on Wednesday, reaching $284.14. The stock had a trading volume of 6,825,385 shares, compared to its average volume of 9,491,678. The firm has a 50-day simple moving average of $259.29 and a 200 day simple moving average of $252.14. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $284.47. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $789.65 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 2.63 and a beta of 1.08.
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 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 the consensus estimate of $43.62 billion. During the same quarter in the prior year, the company posted $4.44 earnings per share. The business's revenue was up 8.0% on a year-over-year basis. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently announced 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 is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Royal Bank Of Canada reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Robert W. Baird increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 10th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Morgan Stanley increased their price target on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $271.90.
Check Out Our Latest Analysis on JPM
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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