Bright Rock Capital Management LLC Sells 15,000 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Bright Rock Capital Management LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 40.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,000 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. Bright Rock Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of JPM. RFG Holdings Inc. lifted its stake in JPMorgan Chase & Co. by 9.5% in the first quarter. RFG Holdings Inc. now owns 960 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 83 shares during the last quarter. May Barnhard Investments LLC lifted its position in shares of JPMorgan Chase & Co. by 25.0% during the 1st quarter. May Barnhard Investments LLC now owns 2,196 shares of the financial services provider’s stock valued at $539,000 after buying an additional 439 shares during the last quarter. Union Bancaire Privee UBP SA lifted its position in shares of JPMorgan Chase & Co. by 19.1% during the 1st quarter. Union Bancaire Privee UBP SA now owns 338,885 shares of the financial services provider’s stock valued at $81,090,000 after buying an additional 54,390 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 232,927 shares of the financial services provider’s stock worth $57,137,000 after acquiring an additional 38,072 shares during the period. Finally, Bellecapital International Ltd. increased its holdings in JPMorgan Chase & Co. by 12.5% in the 1st quarter. Bellecapital International Ltd. now owns 1,263 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $264.72 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $280.25. The stock has a market cap of $735.69 billion, a PE ratio of 13.41, a P/E/G ratio of 2.83 and a beta of 1.08. The firm has a 50 day simple moving average of $252.10 and a two-hundred day simple moving average of $250.56.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) 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 company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the prior year, the company earned $4.44 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.12%. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,272 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the completion of the transaction, the chief operating officer now directly owns 50,197 shares in the company, valued at approximately $12,400,164.91. This represents a 7.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction 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 transaction, 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. Insiders sold 101,722 shares of company stock valued at $25,599,477 in the last quarter. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Royal Bank of Canada reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a “hold” rating for the company. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $269.65.

About JPMorgan Chase & Co.

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.