Steigerwald Gordon & Koch Inc. Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Steigerwald Gordon & Koch Inc. decreased its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,825 shares of the financial services provider’s stock after selling 2,970 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 3.5% of Steigerwald Gordon & Koch Inc.’s holdings, making the stock its 3rd largest holding. Steigerwald Gordon & Koch Inc.’s holdings in JPMorgan Chase & Co. were worth $31,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of JPM. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. GAMMA Investing LLC increased its position in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Northern Trust Corp increased its position in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock valued at $838,865,000 after acquiring an additional 3,489,314 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of JPMorgan Chase & Co. by 31.4% in the fourth 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 acquiring an additional 2,551,899 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent analyst reports. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating on the stock. Bank of America lowered their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Morgan Stanley reissued an “equal weight” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Finally, Royal Bank of Canada reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $267.15.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPM stock opened at $264.38 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock has a market cap of $734.74 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The stock has a 50 day simple moving average of $246.91 and a 200 day simple moving average of $249.59. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same period in the prior year, the company earned $4.44 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Insiders Place Their Bets

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now directly owns 133,381 shares in the company, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the transaction, the general counsel now owns 68,757 shares of the company’s stock, valued at $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,594 shares of company stock worth $23,991,061 over the last three months. Insiders own 0.47% of the company’s stock.

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.