JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,817 shares of the financial services provider’s stock after selling 347 shares during the period. Elmwood Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $2,408,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $8,310,884,000. GAMMA Investing LLC grew its position in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Northern Trust Corp grew its position in shares of JPMorgan Chase & Co. by 15.4% during 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock valued at $2,561,256,000 after buying an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock valued at $4,207,028,000 after buying an additional 2,465,572 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on JPM shares. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating for the company. Wells Fargo & Company restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Finally, Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average price target of $276.80.

JPMorgan Chase & Co. Stock Down 3.1%

JPM stock opened at $282.86 on Wednesday. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The firm has a market cap 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 firm has a 50 day simple moving average of $268.71 and a 200 day simple moving average of $255.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 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 business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period in the prior year, the business earned $4.44 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts forecast 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. Investors of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 6,129 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the transaction, the chief operating officer directly owned 68,583 shares of the company’s stock, valued at $17,197,873.08. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company’s stock.

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.