Selway Asset Management Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Selway Asset Management cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,037 shares of the financial services provider’s stock after selling 80 shares during the period. JPMorgan Chase & Co. comprises approximately 3.3% of Selway Asset Management’s holdings, making the stock its 6th largest position. Selway Asset Management’s holdings in JPMorgan Chase & Co. were worth $8,220,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Oarsman Capital Inc. boosted its holdings in JPMorgan Chase & Co. by 0.5% in the fourth quarter. Oarsman Capital Inc. now owns 11,008 shares of the financial services provider’s stock valued at $1,872,000 after purchasing an additional 59 shares during the last quarter. Curbstone Financial Management Corp boosted its holdings in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock valued at $4,070,000 after purchasing an additional 60 shares during the last quarter. Grey Street Capital LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.9% during the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock worth $1,190,000 after acquiring an additional 60 shares in the last quarter. Intrepid Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Intrepid Capital Management Inc. now owns 1,178 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 60 shares in the last quarter. Finally, Financial Management Network Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.8% during the 4th quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock worth $1,296,000 after acquiring an additional 61 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $195.36, for a total value of $765,811.20. Following the completion of the transaction, the insider now owns 64,783 shares of the company’s stock, valued at approximately $12,656,006.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the sale, the chief executive officer now directly owns 264,461 shares in the company, valued at approximately $48,708,426.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 25th. The stock was sold at an average price of $195.36, for a total transaction of $765,811.20. Following the sale, the insider now owns 64,783 shares in the company, valued at $12,656,006.88. The disclosure for this sale can be found here. Insiders sold 254,485 shares of company stock valued at $47,728,528 in the last 90 days. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 1.1 %

Shares of NYSE JPM opened at $196.46 on Friday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $205.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50 day simple moving average of $195.20 and a 200-day simple moving average of $184.48. The company has a market capitalization of $564.17 billion, a P/E ratio of 11.86, a P/E/G ratio of 2.67 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The firm had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. On average, equities research analysts predict that JPMorgan Chase & Co. will post 16.41 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 21st. StockNews.com lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Morgan Stanley decreased their price target on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. Finally, Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.