Steele Capital Management Inc. Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Steele Capital Management Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,282 shares of the financial services provider’s stock after selling 478 shares during the period. Steele Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,659,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JPM. Stone House Investment Management LLC increased its stake in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after buying an additional 89 shares during the period. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $34,000. Bare Financial Services Inc bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $35,000. Partnership Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $36,000. Finally, Stuart Chaussee & Associates Inc. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $40,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on JPM shares. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group lifted their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Oppenheimer cut their target price 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. Finally, Robert W. Baird increased their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $194.65.

JPMorgan Chase & Co. Trading Down 0.1 %

NYSE JPM opened at $208.69 on Friday. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $210.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The stock’s fifty day moving average price is $197.87 and its 200-day moving average price is $187.03. The stock has a market cap of $599.29 billion, a P/E ratio of 12.60, a P/E/G ratio of 2.80 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 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 the consensus estimate 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, equities analysts forecast that JPMorgan Chase & Co. will post 16.45 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction on 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 sale, the chief executive officer now owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the transaction, the insider now directly owns 217,351 shares of the company’s stock, valued at $42,087,847.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Dimon sold 178,222 shares of the stock in a transaction that occurred 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 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. Insiders sold a total of 250,565 shares of company stock worth $46,962,717 in the last three months. Insiders own 0.79% of the company’s stock.

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.