JPMorgan Chase & Co. $JPM Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 16.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,284,965 shares of the financial services provider’s stock after selling 440,357 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.7% of KBC Group NV’s portfolio, making the stock its 8th largest holding. KBC Group NV’s holdings in JPMorgan Chase & Co. were worth $672,145,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Timmons Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $32,000. MBM Wealth Consultants LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at $29,000. Osbon Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Finally, Turning Point Benefit Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,522,036.98. Following the transaction, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total value of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares of the company’s stock, valued at approximately $13,547,031.53. This represents a 11.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,876 shares of company stock worth $5,907,051 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

JPMorgan Chase & Co. Trading Up 0.3%

NYSE:JPM opened at $349.40 on Friday. The stock has a market cap of $936.23 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.54 and a beta of 0.99. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $351.24. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.85 and a quick ratio of 0.86. The stock’s 50-day moving average is $322.64 and its two-hundred day moving average is $310.84.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.71%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Autonomous Res reduced their price objective on shares of JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. Argus boosted their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Robert W. Baird upped their price target on shares of JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Weiss Ratings lowered shares of JPMorgan Chase & Co. from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $358.67.

Check Out Our Latest Report on JPMorgan Chase & Co.

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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