Candriam S.C.A. Cuts Stock Holdings in JPMorgan Chase & Co. $JPM

Candriam S.C.A. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 23.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 476,801 shares of the financial services provider’s stock after selling 145,890 shares during the period. JPMorgan Chase & Co. makes up 0.7% of Candriam S.C.A.’s portfolio, making the stock its 25th largest holding. Candriam S.C.A.’s holdings in JPMorgan Chase & Co. were worth $140,256,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Morgan Stanley increased its holdings in shares of JPMorgan Chase & Co. by 1.4% in the fourth quarter. Morgan Stanley now owns 66,385,268 shares of the financial services provider’s stock worth $21,390,662,000 after purchasing an additional 939,421 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $11,396,496,000. Bank of New York Mellon Corp boosted its stake in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 23,424,482 shares of the financial services provider’s stock valued at $7,547,837,000 after buying an additional 1,194,583 shares during the last quarter. Legal & General Group Plc grew its holdings in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Legal & General Group Plc now owns 19,019,564 shares of the financial services provider’s stock valued at $6,128,484,000 after buying an additional 110,586 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in JPMorgan Chase & Co. by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 16,018,656 shares of the financial services provider’s stock valued at $5,161,532,000 after buying an additional 296,213 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

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JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $346.77 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $279.10 and a 12 month high of $351.24. The company has a market capitalization of $929.17 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.56 and a beta of 0.99. The firm’s 50-day moving average is $317.58 and its 200 day moving average is $309.98.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 21.86% and a return on equity of 18.23%. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same quarter last year, the firm earned $5.07 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts predict that JPMorgan Chase & Co. will post 22.82 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on JPM shares. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $360.00 to $375.00 and gave the stock an “overweight” rating in a report on Wednesday. HSBC raised their target price on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a report on Monday, May 4th. Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $362.00 to $408.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings raised shares of JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, July 6th. Finally, Daiwa Securities Group lowered their price objective on shares of JPMorgan Chase & Co. from $340.00 to $328.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Fifteen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus target price of $354.42.

Check Out Our Latest Stock Analysis on JPMorgan Chase & Co.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the completion of the sale, the chief operating officer directly owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This trade represents a 5.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total value of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. The trade was a 8.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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