JPMorgan Chase & Co. (NYSE:JPM) Stake Lowered by Bridge Creek Capital Management LLC

Bridge Creek Capital Management LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,377 shares of the financial services provider’s stock after selling 2,880 shares during the period. JPMorgan Chase & Co. makes up 3.3% of Bridge Creek Capital Management LLC’s portfolio, making the stock its 2nd biggest position. Bridge Creek Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $10,395,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $29,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. TD Securities upped their price target on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Evercore ISI lowered their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. KGI Securities initiated coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating on the stock. Finally, Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $267.15.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $264.46 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $190.88 and a 12-month high of $280.25. The stock has a 50-day moving average price of $246.13 and a 200 day moving average price of $249.37. The stock has a market capitalization of $734.96 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM) last released 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. The firm had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $4.44 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel now owns 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This represents a 15.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,594 shares of company stock worth $23,991,061 in the last quarter. 0.47% of the stock is 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.