Cooke & Bieler LP Has $43.43 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cooke & Bieler LP cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 22.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,028 shares of the financial services provider’s stock after selling 52,158 shares during the period. Cooke & Bieler LP’s holdings in JPMorgan Chase & Co. were worth $43,425,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of JPM. Geode Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $8,310,884,000. Northern Trust Corp increased its position in JPMorgan Chase & Co. by 15.4% during 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 during the last quarter. Bank of New York Mellon Corp increased its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock worth $6,083,723,000 after buying an additional 454,226 shares during the last quarter. Finally, GAMMA Investing LLC grew 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 purchasing an additional 23,465,278 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 1.7%

JPMorgan Chase & Co. stock opened at $296.37 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.99. The firm’s fifty day moving average price is $276.47 and its 200-day moving average price is $258.99. The stock has a market cap of $823.64 billion, a P/E ratio of 15.21, a PEG ratio of 1.99 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. JPMorgan Chase & Co.’s payout ratio is currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares of the company’s stock, valued at $22,884,750. The trade was a 9.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company’s stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JPM. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Hsbc Global Res cut JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 16th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Finally, Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.68.

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.