Norway Savings Bank Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Norway Savings Bank cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% in the first quarter, Holdings Channel reports. The firm owned 22,123 shares of the financial services provider’s stock after selling 835 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.8% of Norway Savings Bank’s holdings, making the stock its 12th biggest position. Norway Savings Bank’s holdings in JPMorgan Chase & Co. were worth $4,431,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC raised its stake in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 89 shares during the last quarter. Bare Financial Services Inc purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $35,000. Partnership Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $36,000. Stuart Chaussee & Associates Inc. purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $40,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Robin Leopold sold 3,000 shares of JPMorgan Chase & Co. stock in a transaction on Friday, May 10th. The stock was sold at an average price of $198.86, for a total value of $596,580.00. Following the transaction, the insider now owns 44,113 shares in the company, valued at $8,772,311.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the sale, the chief executive officer now owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The disclosure for this sale can be found here. Insiders have sold a total of 250,565 shares of company stock worth $46,962,717 in the last three months. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $202.26 on Monday. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $205.88. The company’s 50 day simple moving average is $196.91 and its 200 day simple moving average is $186.28. The company has a market capitalization of $580.82 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.72 and a beta of 1.12. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.45. The business had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 16.44 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Morgan Stanley reduced their target price on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, May 21st. Oppenheimer lowered their price target on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Company Profile

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.