Oakworth Capital Inc. Sells 1,135 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Oakworth Capital Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 198,827 shares of the financial services provider’s stock after selling 1,135 shares during the quarter. JPMorgan Chase & Co. makes up about 3.4% of Oakworth Capital Inc.’s holdings, making the stock its 8th biggest position. Oakworth Capital Inc.’s holdings in JPMorgan Chase & Co. were worth $48,772,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in JPMorgan Chase & Co. by 1.5% in the 4th 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 buying an additional 876,417 shares during the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $8,310,884,000. Northern Trust Corp grew its stake in JPMorgan Chase & Co. by 15.4% in 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 grew its position in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors grew its position in JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after purchasing an additional 1,914,049 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In related news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares of the company’s stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock valued at $18,060,015. Company insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research report on Monday. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Finally, TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price target on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $275.80.

JPMorgan Chase & Co. Trading Up 0.5%

Shares of JPM stock opened at $291.85 on Thursday. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $292.82. The company has a market capitalization of $811.08 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.70 and a beta of 1.10. The firm has a 50-day moving average price of $264.89 and a 200 day moving average price of $253.77. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the firm posted $4.44 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

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.