Lazard Asset Management LLC Has $61.32 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Lazard Asset Management LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the 1st quarter, HoldingsChannel.com reports. The firm owned 306,146 shares of the financial services provider’s stock after selling 6,352 shares during the quarter. Lazard Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $61,320,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $6,016,878,000. International Assets Investment Management LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $1,017,893,000. Capital Research Global Investors lifted its stake in JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock valued at $3,445,185,000 after acquiring an additional 3,252,451 shares during the last quarter. Capital International Investors lifted its stake in JPMorgan Chase & Co. by 5.4% in 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 acquiring an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after acquiring an additional 1,480,379 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded up $3.57 on Friday, hitting $212.24. The company’s stock had a trading volume of 8,027,787 shares, compared to its average volume of 9,013,996. The firm has a market cap of $609.48 billion, a P/E ratio of 11.84, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average price of $202.39 and a 200-day moving average price of $191.75. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $217.56.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.17%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on JPM shares. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Barclays lifted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.89.

Insider Activity

In other news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the sale, the insider now directly owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the sale, the insider now directly owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure for this sale can be found here. Insiders sold a total of 72,343 shares of company stock valued at $14,137,789 in the last ninety days. 0.79% of the stock is owned by insiders.

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.