Highland Capital Management LLC Has $40.18 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Highland Capital Management LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 163,798 shares of the financial services provider’s stock after selling 10,102 shares during the quarter. JPMorgan Chase & Co. makes up about 2.4% of Highland Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Highland Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $40,180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $296.13 on Friday. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The business’s 50-day moving average price is $265.91 and its two-hundred day moving average price is $254.16. The stock has a market cap of $822.96 billion, a PE ratio of 14.54, a P/E/G ratio of 2.72 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the previous year, the business posted $4.44 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director owned 91,539 shares of the company’s stock, valued at $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on JPM shares. KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Monday. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a report on Friday, June 27th. Bank of America raised their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Finally, Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, June 23rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $277.74.

JPMorgan Chase & Co. 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.