Congress Asset Management Co. Has $27.66 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Congress Asset Management Co. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,742 shares of the financial services provider’s stock after selling 2,123 shares during the period. Congress Asset Management Co.’s holdings in JPMorgan Chase & Co. were worth $27,656,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at $33,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer now directly owns 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares of the company’s stock, valued at $12,130,438.84. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,722 shares of company stock valued at $25,599,477. Corporate insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Bank of America decreased their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Robert W. Baird lifted their price target on shares of 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, KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $267.15.

JPMorgan Chase & Co. Trading Up 1.5%

Shares of JPM stock opened at $265.81 on Friday. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a 50-day simple moving average of $247.68 and a two-hundred day simple moving average of $249.92. The company has a market capitalization of $738.71 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.83 and a beta of 1.08.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

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.