Rossby Financial LCC Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Rossby Financial LCC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 41.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,143 shares of the financial services provider’s stock after purchasing an additional 1,212 shares during the period. Rossby Financial LCC’s holdings in JPMorgan Chase & Co. were worth $1,009,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Summit Trail Advisors LLC raised its stake in JPMorgan Chase & Co. by 10.5% in the first quarter. Summit Trail Advisors LLC now owns 99,119 shares of the financial services provider’s stock worth $24,314,000 after buying an additional 9,397 shares in the last quarter. Sageworth Trust Co of South Dakota bought a new position in JPMorgan Chase & Co. in the first quarter worth about $285,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in JPMorgan Chase & Co. by 4.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 692,057 shares of the financial services provider’s stock worth $169,762,000 after buying an additional 27,282 shares in the last quarter. Clear Creek Financial Management LLC raised its stake in JPMorgan Chase & Co. by 17.5% in the first quarter. Clear Creek Financial Management LLC now owns 15,391 shares of the financial services provider’s stock worth $3,776,000 after buying an additional 2,292 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its stake in JPMorgan Chase & Co. by 3.4% in the first quarter. Cidel Asset Management Inc. now owns 100,543 shares of the financial services provider’s stock worth $24,663,000 after buying an additional 3,296 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JPM. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Morgan Stanley set a $240.00 target price on shares of JPMorgan Chase & Co. and gave the company an “equal weight” rating in a research note on Monday. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $277.74.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last 90 days. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.4%

Shares of JPMorgan Chase & Co. stock opened at $291.95 on Tuesday. The company’s fifty day simple moving average is $267.94 and its 200-day simple moving average is $255.26. The stock has a market capitalization of $811.36 billion, a PE ratio of 14.33, a P/E/G ratio of 2.75 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. 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 issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $4.44 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current 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 dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. JPMorgan Chase & Co.’s payout ratio is 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.