JPMorgan Chase & Co. (NYSE:JPM) Stock Position Cut by Clearbridge Investments LLC

Clearbridge Investments LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,557,077 shares of the financial services provider’s stock after selling 160,161 shares during the period. JPMorgan Chase & Co. comprises approximately 1.2% of Clearbridge Investments LLC’s holdings, making the stock its 10th largest position. Clearbridge Investments LLC owned approximately 0.26% of JPMorgan Chase & Co. worth $1,514,084,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. Capital International Investors grew its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares during the period. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $6,016,878,000. Dimensional Fund Advisors LP raised its position in shares of JPMorgan Chase & Co. by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after buying an additional 695,502 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after buying an additional 154,426 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of JPMorgan Chase & Co. by 4.1% during the fourth quarter. Fisher Asset Management LLC now owns 11,849,090 shares of the financial services provider’s stock worth $2,015,530,000 after acquiring an additional 462,290 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of NYSE JPM opened at $209.16 on Thursday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $217.56. The firm has a 50-day simple moving average of $202.11 and a two-hundred day simple moving average of $191.20. The company has a market cap of $600.64 billion, a P/E ratio of 11.63, a PEG ratio of 2.47 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter in the previous year, the business earned $4.37 EPS. Research analysts anticipate that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on JPM shares. Oppenheimer lifted their price target on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Barclays boosted their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. UBS Group increased their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Finally, Jefferies Financial Group increased their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $202.89.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the sale, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the sale, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the sale, the insider now owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The disclosure for this sale can be found here. Insiders have sold 72,343 shares of company stock valued at $14,137,789 in the last 90 days. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.