ZWJ Investment Counsel Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,370 shares of the financial services provider's stock after selling 5,584 shares during the period. JPMorgan Chase & Co. comprises about 2.4% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 12th largest position. ZWJ Investment Counsel Inc.'s holdings in JPMorgan Chase & Co. were worth $58,227,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in JPM. Blue Bell Private Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock worth $622,000 after purchasing an additional 38 shares in the last quarter. Hurlow Wealth Management Group Inc. raised its stake in JPMorgan Chase & Co. by 0.7% during the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after buying an additional 40 shares during the period. Wimmer Associates 1 LLC lifted its holdings in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after acquiring an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after acquiring an additional 40 shares during the period. Finally, Rockbridge Investment Management LCC grew its stake in JPMorgan Chase & Co. by 2.3% in the fourth quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock valued at $441,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.
Insider Transactions at JPMorgan Chase & Co.
In related news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on JPM shares. KGI Securities began coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating for the company. HSBC reiterated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday. 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, July 7th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $284.42.
View Our Latest Stock Analysis on JPMorgan Chase & Co.
JPMorgan Chase & Co. Stock Performance
NYSE:JPM traded down $1.41 during mid-day trading on Friday, hitting $286.78. The stock had a trading volume of 7,378,197 shares, compared to its average volume of 9,530,369. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $796.99 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.62 and a beta of 1.10. The company's 50 day simple moving average is $270.98 and its 200 day simple moving average is $256.29.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the company posted $4.44 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. 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 1.95%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.
JPMorgan Chase & Co. Company Profile
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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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