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CWA Asset Management Group LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,159 shares of the financial services provider’s stock after selling 7,907 shares during the quarter. CWA Asset Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $9,837,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Pinnacle Wealth Management Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 1.3% in the first quarter. Pinnacle Wealth Management Group Inc. now owns 15,931 shares of the financial services provider’s stock worth $2,172,000 after purchasing an additional 200 shares during the last quarter. Empirical Finance LLC increased its position in shares of JPMorgan Chase & Co. by 11.3% during the first quarter. Empirical Finance LLC now owns 58,311 shares of the financial services provider’s stock valued at $7,949,000 after acquiring an additional 5,905 shares during the last quarter. Gyroscope Capital Management Group LLC increased its position in shares of JPMorgan Chase & Co. by 11.6% during the first quarter. Gyroscope Capital Management Group LLC now owns 49,244 shares of the financial services provider’s stock valued at $6,713,000 after acquiring an additional 5,107 shares during the last quarter. HighTower Trust Services LTA increased its position in shares of JPMorgan Chase & Co. by 16.9% during the first quarter. HighTower Trust Services LTA now owns 55,702 shares of the financial services provider’s stock valued at $7,593,000 after acquiring an additional 8,044 shares during the last quarter. Finally, Financial Management Network Inc. increased its position in shares of JPMorgan Chase & Co. by 11.5% during the first quarter. Financial Management Network Inc. now owns 5,806 shares of the financial services provider’s stock valued at $789,000 after acquiring an additional 597 shares during the last quarter. 70.35% of the stock is owned by hedge funds and other institutional investors.
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 21,012 shares of the firm’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total transaction of $2,732,400.48. Following the sale, the insider now owns 178,588 shares in the company, valued at $23,223,583.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Piepszak sold 4,668 shares of the firm’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $126.19, for a total value of $589,054.92. Following the sale, the chief executive officer now owns 11,135 shares in the company, valued at approximately $1,405,125.65. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.
NYSE:JPM opened at $114.36 on Friday. The firm has a market capitalization of $335.88 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 1.99 and a beta of 1.15. JPMorgan Chase & Co. has a 52-week low of $109.30 and a 52-week high of $172.96. The stock has a fifty day moving average of $120.53 and a 200 day moving average of $136.10. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.82.
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its quarterly earnings data on Wednesday, April 13th. The financial services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.73 by ($0.10). The business had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $30.53 billion. JPMorgan Chase & Co. had a net margin of 33.61% and a return on equity of 16.58%. JPMorgan Chase & Co.’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.50 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 11.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Investors of record on Wednesday, July 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.50%. The ex-dividend date is Tuesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is 29.67%.
A number of analysts recently commented on the company. Berenberg Bank set a $120.00 price target on JPMorgan Chase & Co. in a research report on Tuesday, April 19th. Argus decreased their price target on JPMorgan Chase & Co. from $177.00 to $155.00 in a research report on Thursday, April 14th. BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $150.00 to $156.00 in a research report on Tuesday, May 24th. StockNews.com started coverage on JPMorgan Chase & Co. in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $148.00 price objective (up from $142.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $159.33.
JPMorgan Chase & Co. Company Profile (Get Rating)
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers s deposit, investment and lending products, payments, and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.
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