Matrix Trust Co Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Matrix Trust Co trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 10,025 shares of the financial services provider’s stock after selling 154 shares during the period. JPMorgan Chase & Co. makes up approximately 0.4% of Matrix Trust Co’s portfolio, making the stock its 29th largest position. Matrix Trust Co’s holdings in JPMorgan Chase & Co. were worth $2,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $8,310,884,000. Northern Trust Corp lifted its position in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after purchasing an additional 1,914,049 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 0.7%

NYSE JPM opened at $264.38 on Thursday. The stock’s 50-day simple moving average is $246.91 and its two-hundred day simple moving average is $249.59. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $734.74 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.83 and a beta of 1.08.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel now owns 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,594 shares of company stock worth $23,991,061 in the last 90 days. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore ISI dropped their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Robert W. Baird increased their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Finally, Bank of America dropped their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $267.15.

About JPMorgan Chase & Co.

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.