Spinnaker Trust Has $15.32 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Spinnaker Trust lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,438 shares of the financial services provider’s stock after selling 6,165 shares during the period. JPMorgan Chase & Co. accounts for about 1.0% of Spinnaker Trust’s portfolio, making the stock its 21st largest position. Spinnaker Trust’s holdings in JPMorgan Chase & Co. were worth $15,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $8,310,884,000. GAMMA Investing LLC raised its position in 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 worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Northern Trust Corp raised its position 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 acquiring an additional 4,515,147 shares during the period. Proficio Capital Partners LLC raised its position in 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 worth $838,865,000 after acquiring 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 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 worth $2,561,256,000 after purchasing an additional 2,551,899 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.4%

Shares of JPMorgan Chase & Co. stock opened at $296.13 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The stock has a market capitalization of $822.96 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The company’s 50 day moving average price is $266.97 and its 200-day moving average price is $254.73.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.44 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of research reports. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an “equal weight” rating in a report on Monday, June 23rd. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Finally, Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $277.74.

Insider Activity at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. 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 completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company 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.