Consolidated Investment Group LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Consolidated Investment Group LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,702 shares of the financial services provider’s stock after selling 990 shares during the period. JPMorgan Chase & Co. makes up about 1.0% of Consolidated Investment Group LLC’s holdings, making the stock its 23rd biggest holding. Consolidated Investment Group LLC’s holdings in JPMorgan Chase & Co. were worth $6,550,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in JPM. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $29,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Morgan Stanley raised their price objective on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Evercore ISI reduced their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $271.90.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $284.14 on Thursday. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $284.28. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The firm’s fifty day moving average is $259.29 and its two-hundred day moving average is $252.14. The company has a market cap of $789.65 billion, a P/E ratio of 13.95, a P/E/G ratio of 2.63 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the company posted $4.44 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 6,129 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the sale, the chief operating officer now directly owns 68,583 shares in the company, valued at $17,197,873.08. The trade was a 8.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer now owns 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.