Overbrook Management Corp Sells 1,145 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Overbrook Management Corp trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% during the first quarter, Holdings Channel reports. The institutional investor owned 30,395 shares of the financial services provider’s stock after selling 1,145 shares during the quarter. JPMorgan Chase & Co. makes up about 1.8% of Overbrook Management Corp’s holdings, making the stock its 23rd largest position. Overbrook Management Corp’s holdings in JPMorgan Chase & Co. were worth $7,456,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $471,000. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $217,000. LGT Group Foundation raised its holdings in shares of JPMorgan Chase & Co. by 2.8% in the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after purchasing an additional 14,300 shares during the last quarter. Hidden Cove Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 112 shares during the last quarter. Finally, Kinsale Capital Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,375 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were 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. The trade was a 9.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 18,017 shares of the company’s stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating for the company. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an “equal weight” rating in a report on Monday, June 23rd. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Monday. Finally, TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Two investment 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. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $277.74.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $296.13 on Friday. The firm has a 50 day moving average of $265.91 and a 200-day moving average of $254.16. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The firm has a market capitalization of $822.96 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period last year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.89%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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.