JPMorgan Chase & Co. (NYSE:JPM) Stake Trimmed by Washington Capital Management Inc.

Washington Capital Management Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,280 shares of the financial services provider’s stock after selling 60 shares during the quarter. JPMorgan Chase & Co. makes up about 1.8% of Washington Capital Management Inc.’s investment portfolio, making the stock its 7th largest position. Washington Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,276,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of JPM. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $8,310,884,000. GAMMA Investing LLC lifted its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after buying an additional 3,489,314 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock worth $2,561,256,000 after buying an additional 2,551,899 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.5%

Shares of JPM opened at $265.81 on Monday. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The company has a market cap of $738.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.83 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $247.68 and its 200-day simple moving average is $249.96.

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

JPMorgan Chase & Co. Dividend Announcement

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

Insider Transactions at JPMorgan Chase & Co.

In other 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 transaction, the chief operating officer now directly owns 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the transaction, the general counsel now owns 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,722 shares of company stock worth $25,599,477. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on JPM. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley reiterated an “equal weight” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Bank of America dropped their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $267.15.

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.