Corundum Group Inc. Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Corundum Group Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,309 shares of the financial services provider’s stock after selling 644 shares during the quarter. JPMorgan Chase & Co. makes up 1.0% of Corundum Group Inc.’s investment portfolio, making the stock its 19th largest holding. Corundum Group Inc.’s holdings in JPMorgan Chase & Co. were worth $2,065,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Trust Co of the South lifted its position in shares of JPMorgan Chase & Co. by 1.1% in the first quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock valued at $991,000 after acquiring an additional 53 shares in the last quarter. PFW Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 1.1% in the 1st quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 55 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. boosted its stake in JPMorgan Chase & Co. by 2.0% during the 1st quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,837 shares of the financial services provider’s stock worth $568,000 after purchasing an additional 55 shares during the last quarter. Oarsman Capital Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.5% during the fourth quarter. Oarsman Capital Inc. now owns 11,008 shares of the financial services provider’s stock worth $1,872,000 after buying an additional 59 shares in the last quarter. Finally, Curbstone Financial Management Corp raised its position in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock valued at $4,070,000 after buying an additional 60 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on JPM shares. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Evercore ISI increased their price target on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. BMO Capital Markets lowered their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. UBS Group raised their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $194.10.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now directly owns 212,265 shares in the company, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 250,565 shares of company stock worth $46,962,717. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $202.34 on Friday. The company has a market cap of $581.05 billion, a P/E ratio of 12.22, a PEG ratio of 2.65 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $205.88. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average price is $196.91 and its 200 day moving average price is $185.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

JPMorgan Chase & Co. Company 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.