Greenhaven Associates Inc. Sells 4,618,884 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Greenhaven Associates Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 99.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,500 shares of the financial services provider’s stock after selling 4,618,884 shares during the quarter. JPMorgan Chase & Co. comprises about 0.0% of Greenhaven Associates Inc.’s portfolio, making the stock its 18th biggest position. Greenhaven Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $1,517,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital International Investors grew its stake in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after buying an additional 778,297 shares during the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $6,016,878,000. Capital World Investors grew its stake in JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after buying an additional 150,812 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in JPMorgan Chase & Co. by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock worth $3,629,757,000 after buying an additional 695,502 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in JPMorgan Chase & Co. by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after buying an additional 154,426 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JPM. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Barclays boosted their price target on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock traded up $0.37 during mid-day trading on Monday, reaching $206.17. 2,849,448 shares of the stock traded hands, compared to its average volume of 9,250,190. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average of $203.58 and a 200 day moving average of $194.43. The stock has a market capitalization of $592.05 billion, a PE ratio of 11.53, a PEG ratio of 2.42 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 $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the prior year, the business earned $4.37 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were given a $1.15 dividend. The ex-dividend date was Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.23%. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Insider Buying and Selling

In related news, CEO Marianne Lake sold 11,734 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $200.02, for a total value of $2,347,034.68. Following the completion of the transaction, the chief executive officer now directly owns 122,740 shares in the company, valued at $24,550,454.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marianne Lake sold 11,734 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $200.02, for a total value of $2,347,034.68. Following the transaction, the chief executive officer now owns 122,740 shares in the company, valued at $24,550,454.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,533 shares of company stock worth $5,310,756. Company insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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.