JPMorgan Chase & Co. (NYSE:JPM) Position Reduced by Cypress Capital Management LLC WY

Cypress Capital Management LLC WY lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,436 shares of the financial services provider’s stock after selling 112 shares during the period. JPMorgan Chase & Co. accounts for 2.5% of Cypress Capital Management LLC WY’s investment portfolio, making the stock its 10th biggest position. Cypress Capital Management LLC WY’s holdings in JPMorgan Chase & Co. were worth $2,069,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Carnegie Lake Advisors LLC grew its holdings in JPMorgan Chase & Co. by 0.6% in the 1st quarter. Carnegie Lake Advisors LLC now owns 21,455 shares of the financial services provider’s stock worth $5,263,000 after acquiring an additional 121 shares during the last quarter. Csenge Advisory Group grew its holdings in JPMorgan Chase & Co. by 20.1% in the 1st quarter. Csenge Advisory Group now owns 41,701 shares of the financial services provider’s stock worth $9,673,000 after acquiring an additional 6,988 shares during the last quarter. St. Louis Trust Co grew its holdings in JPMorgan Chase & Co. by 5.3% in the 1st quarter. St. Louis Trust Co now owns 20,051 shares of the financial services provider’s stock worth $4,919,000 after acquiring an additional 1,011 shares during the last quarter. AMG National Trust Bank grew its holdings in JPMorgan Chase & Co. by 26.3% in the 1st quarter. AMG National Trust Bank now owns 66,803 shares of the financial services provider’s stock worth $16,387,000 after acquiring an additional 13,911 shares during the last quarter. Finally, Washburn Capital Management Inc. grew its holdings in JPMorgan Chase & Co. by 18.3% in the 1st quarter. Washburn Capital Management Inc. now owns 2,550 shares of the financial services provider’s stock worth $626,000 after acquiring an additional 395 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on JPM shares. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Monday, July 7th. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Phillip Securities cut shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Finally, Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.68.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of NYSE JPM opened at $296.81 on Friday. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $299.59. The stock has a market cap of $824.86 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. The firm has a 50-day moving average of $277.06 and a 200 day moving average of $259.38. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The business 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 was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $6.12 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed 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. 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 dividend payout ratio is currently 28.73%.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated 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 sale, the director owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 in the last quarter. 0.47% of the stock is owned by company insiders.

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.