Madison Asset Management LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 21.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,919 shares of the financial services provider’s stock after selling 86,406 shares during the period. Madison Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $41,819,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in JPM. Retirement Financial Solutions LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $26,000. Creative Capital Management Investments LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $30,000. Adirondack Retirement Specialists Inc. grew its position in JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after buying an additional 189 shares during the period. Boulder Wealth Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Finally, Capital Directions Investment Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth about $44,000. 70.10% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Douglas B. Petno sold 4,930 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the transaction, the insider now directly owns 45,056 shares in the company, valued at approximately $6,083,461.12. The disclosure for this sale can be found here. Insiders have sold a total of 145,861 shares of company stock valued at $19,858,275 over the last quarter. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $3.62 by $0.75. The company had revenue of $42.40 billion for the quarter, compared to the consensus estimate of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. JPMorgan Chase & Co.’s revenue was up 34.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.76 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 14.39 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.74%.
Analyst Upgrades and Downgrades
Several research firms have recently commented on JPM. Bank of America increased their price target on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a research report on Monday, April 17th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $174.00 to $180.00 in a research report on Monday. Jefferies Financial Group upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price target for the company from $149.00 to $165.00 in a research report on Tuesday, July 11th. Societe Generale lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Finally, Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Six equities 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.65.
About JPMorgan Chase & Co.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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