Rockland Trust Co. Sells 22,523 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Rockland Trust Co. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 14.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,171 shares of the financial services provider’s stock after selling 22,523 shares during the quarter. JPMorgan Chase & Co. makes up 1.7% of Rockland Trust Co.’s investment portfolio, making the stock its 19th largest position. Rockland Trust Co.’s holdings in JPMorgan Chase & Co. were worth $33,893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at about $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley reiterated an “equal weight” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Wells Fargo & Company upped their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America decreased their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Finally, Robert W. Baird increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $269.65.

JPMorgan Chase & Co. Trading Down 1.3%

Shares of NYSE JPM opened at $264.72 on Friday. The firm’s 50 day moving average price is $252.10 and its 200-day moving average price is $250.56. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market cap of $735.69 billion, a PE ratio of 13.41, a P/E/G 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, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period in the previous year, the business earned $4.44 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts expect 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. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. 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 is currently 27.49%.

Insider Activity

In other news, COO Jennifer Piepszak sold 4,272 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the completion of the sale, the chief operating officer now directly owns 50,197 shares in the company, valued at $12,400,164.91. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares of the company’s stock, valued at $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,722 shares of company stock valued at $25,599,477 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

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.