CGC Financial Services LLC Sells 400 Shares of JPMorgan Chase & Co. (NYSE:JPM)

CGC Financial Services LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 16.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,010 shares of the financial services provider’s stock after selling 400 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.2% of CGC Financial Services LLC’s investment portfolio, making the stock its 26th largest holding. CGC Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $493,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank bought 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 holdings in JPMorgan Chase & Co. by 25,861.9% during 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 buying an additional 23,465,278 shares during the period. Northern Trust Corp raised its stake in 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 worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. Proficio Capital Partners LLC lifted its holdings in JPMorgan Chase & Co. by 34,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after buying an additional 3,489,314 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in 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 acquiring an additional 2,551,899 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.5%

NYSE:JPM opened at $265.81 on Monday. The company has a market capitalization of $738.71 billion, a P/E ratio of 13.47, a PEG ratio of 2.83 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25. The firm has a fifty day simple moving average of $247.68 and a 200-day simple moving average of $249.96.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter last year, the business posted $4.44 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 4,272 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares in the company, valued at approximately $12,400,164.91. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,722 shares of company stock valued at $25,599,477. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of analyst reports. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Finally, TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $267.15.

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.