Steel Grove Capital Advisors LLC Sells 1,351 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Steel Grove Capital Advisors LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,456 shares of the financial services provider’s stock after selling 1,351 shares during the period. JPMorgan Chase & Co. accounts for about 0.2% of Steel Grove Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest position. Steel Grove Capital Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $6,100,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors grew its position in JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $6,016,878,000. Capital World Investors increased its position in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after purchasing an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in JPMorgan Chase & Co. by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after buying an additional 695,502 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after buying an additional 154,426 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.7 %

Shares of NYSE:JPM traded up $3.57 during trading on Friday, reaching $212.24. The stock had a trading volume of 8,027,787 shares, compared to its average volume of 9,013,996. The firm’s 50-day simple moving average is $202.39 and its 200 day simple moving average is $191.75. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $217.56. The company has a market capitalization of $609.48 billion, a P/E ratio of 11.84, a PEG ratio of 2.49 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period in the previous year, the company earned $4.37 earnings per share. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the sale, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the sale, the insider now owns 6,484 shares in the company, valued at $1,237,860.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the transaction, the insider now owns 217,351 shares in the company, valued at approximately $42,087,847.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,343 shares of company stock worth $14,137,789. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JPM. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $214.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, Robert W. Baird upped their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.89.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.