NorthCrest Asset Manangement LLC Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

NorthCrest Asset Manangement LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 230,095 shares of the financial services provider’s stock after selling 1,077 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.6% of NorthCrest Asset Manangement LLC’s portfolio, making the stock its 7th largest position. NorthCrest Asset Manangement LLC’s holdings in JPMorgan Chase & Co. were worth $55,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $29,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $37,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. The trade was a 15.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer now directly owns 18,017 shares of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock valued at $23,991,061 over the last ninety days. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.7%

Shares of JPMorgan Chase & Co. stock opened at $265.12 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The stock’s 50-day simple moving average is $244.84 and its 200 day simple moving average is $248.69. The stock has a market capitalization of $736.79 billion, a P/E ratio of 13.43, a P/E/G ratio of 2.83 and a beta of 1.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the firm earned $4.44 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business 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 $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 2.11%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JPM. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. KGI Securities began coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating for the company. UBS Group lifted their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Robert W. Baird lifted their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Finally, TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.65.

JPMorgan Chase & Co. Profile

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.