Oak Asset Management LLC Has $3.80 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Oak Asset Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 18,949 shares of the financial services provider’s stock after selling 60 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.4% of Oak Asset Management LLC’s portfolio, making the stock its 22nd largest position. Oak Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,795,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Wellington Wealth Strategies LLC. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $1,145,000. Etfidea LLC lifted its stake in JPMorgan Chase & Co. by 5.4% in the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after buying an additional 100 shares during the period. Cooper Financial Group boosted its holdings in shares of JPMorgan Chase & Co. by 12.8% during the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock worth $1,741,000 after buying an additional 984 shares in the last quarter. Sutton Place Investors LLC grew its position in shares of JPMorgan Chase & Co. by 179.5% during the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after buying an additional 8,412 shares during the period. Finally, Spartan Planning & Wealth Management increased its stake in shares of JPMorgan Chase & Co. by 257.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 2,722 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on JPM shares. Oppenheimer reduced their target price on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Monday, April 15th. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Jefferies Financial Group raised their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $194.65.

Insider Activity

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

JPMorgan Chase & Co. Trading Down 0.3 %

Shares of JPMorgan Chase & Co. stock opened at $208.29 on Thursday. The stock has a market capitalization of $598.14 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.72 and a beta of 1.12. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $210.38. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50-day simple moving average is $197.57 and its 200 day simple moving average is $186.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.45. The company had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 16.45 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

JPMorgan Chase & Co. 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.