Alerus Financial NA Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Alerus Financial NA cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.4% during the 1st quarter, HoldingsChannel reports. The fund owned 122,035 shares of the financial services provider’s stock after selling 3,035 shares during the quarter. JPMorgan Chase & Co. makes up 1.8% of Alerus Financial NA’s investment portfolio, making the stock its 14th biggest position. Alerus Financial NA’s holdings in JPMorgan Chase & Co. were worth $24,444,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Stone House Investment Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the last quarter. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares in the last quarter. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at $34,000. Bare Financial Services Inc bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $35,000. Finally, Partnership Wealth Management LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $36,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the sale, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $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 JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mary E. Erdoes sold 15,895 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $193.66, for a total value of $3,078,225.70. Following the completion of the transaction, the chief executive officer now directly owns 585,898 shares in the company, valued at approximately $113,465,006.68. The disclosure for this sale can be found here. Insiders sold 72,343 shares of company stock worth $14,137,789 in the last three months. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Down 0.8 %

Shares of NYSE:JPM opened at $208.59 on Thursday. The stock has a 50 day moving average of $202.11 and a 200 day moving average of $191.20. The company has a market cap of $599.00 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.47 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month 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 for the quarter, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the prior year, the company posted $4.37 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 16.67 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.21%. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. Oppenheimer raised their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Wolfe Research lowered JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Finally, Jefferies Financial Group boosted their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $202.89.

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.