LGT Fund Management Co Ltd. Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

LGT Fund Management Co Ltd. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 13.6% during the first quarter, HoldingsChannel.com reports. The firm owned 34,722 shares of the financial services provider’s stock after selling 5,445 shares during the period. LGT Fund Management Co Ltd.’s holdings in JPMorgan Chase & Co. were worth $8,517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter worth about $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the 1st quarter worth about $30,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Measured Risk Portfolios Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $54,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on JPM shares. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 16th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. HSBC reiterated a “reduce” rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $288.68.

JPMorgan Chase & Co. Trading Down 1.3%

Shares of JPMorgan Chase & Co. stock opened at $290.48 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a fifty day moving average price of $286.42 and a 200 day moving average price of $263.61. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. The stock has a market cap of $798.75 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter last year, the company posted $6.12 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were 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 owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,557 shares of company stock valued at $4,113,796. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company 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.