Harbor Capital Advisors Inc. Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Harbor Capital Advisors Inc. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,722 shares of the financial services provider’s stock after selling 4,568 shares during the quarter. JPMorgan Chase & Co. comprises about 0.6% of Harbor Capital Advisors Inc.’s portfolio, making the stock its 23rd largest position. Harbor Capital Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $13,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $29,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent analyst reports. KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $269.65.

JPMorgan Chase & Co. Stock Up 0.7%

NYSE:JPM opened at $268.63 on Wednesday. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25. The stock has a market capitalization of $746.54 billion, a P/E ratio of 13.61, a P/E/G ratio of 2.83 and a beta of 1.08. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company’s 50-day simple moving average is $248.89 and its 200-day simple moving average is $250.21.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period last year, the business earned $4.44 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Insider Activity

In related news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer now directly owns 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This trade represents a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,722 shares of company stock worth $25,599,477. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.