Investment Management Corp of Ontario Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Investment Management Corp of Ontario trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 361,771 shares of the financial services provider's stock after selling 38,454 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.9% of Investment Management Corp of Ontario's investment portfolio, making the stock its 7th biggest position. Investment Management Corp of Ontario's holdings in JPMorgan Chase & Co. were worth $86,720,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JPM. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $29,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $37,000. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JPM shares. Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Evercore ISI lowered their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Finally, Bank of America cut their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Hold" and a consensus price target of $255.67.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE:JPM opened at $253.20 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25. The company has a market cap of $703.67 billion, a PE ratio of 12.83, a PEG ratio of 2.83 and a beta of 1.07. The firm has a 50-day moving average of $238.28 and a 200-day moving average of $245.67.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $4.44 earnings per share. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.21%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Insiders Place Their Bets

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now owns 50,377 shares of the company's stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,188 shares of company stock valued at $33,095,363 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.