JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Baskin Financial Services Inc.

Baskin Financial Services Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,518 shares of the financial services provider’s stock after selling 136 shares during the period. Baskin Financial Services Inc.’s holdings in JPMorgan Chase & Co. were worth $372,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $29,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the first quarter valued at $33,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $282.86 on Wednesday. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. The stock’s 50 day moving average is $268.71 and its two-hundred day moving average is $255.45. The firm has a market capitalization of $786.09 billion, a PE ratio of 13.89, a P/E/G ratio of 2.71 and a beta of 1.10. 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. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share 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 company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the previous year, the company earned $4.44 EPS. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insider Activity at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 in the last 90 days. Insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on JPM shares. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Morgan Stanley set a $240.00 target price on JPMorgan Chase & Co. and gave the stock an “equal weight” rating in a research report on Monday. UBS Group lifted their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $276.80.

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.