Sanibel Captiva Trust Company Inc. Acquires New Position in JPMorgan Chase & Co. (NYSE:JPM)

Sanibel Captiva Trust Company Inc. purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 236,558 shares of the financial services provider’s stock, valued at approximately $40,239,000. JPMorgan Chase & Co. accounts for 1.5% of Sanibel Captiva Trust Company Inc.’s holdings, making the stock its 15th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Morgan Stanley increased its position in shares of JPMorgan Chase & Co. by 0.3% during the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after buying an additional 201,441 shares during the period. FMR LLC increased its position in shares of JPMorgan Chase & Co. by 1.2% during the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock valued at $7,166,546,000 after buying an additional 606,382 shares during the period. Wellington Management Group LLP increased its position in shares of JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after buying an additional 4,603,090 shares during the period. Capital International Investors grew its holdings in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $6,016,878,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley cut their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, May 21st. BMO Capital Markets cut their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a report on Monday, April 15th. Oppenheimer cut their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $194.10.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Insiders have sold 254,485 shares of company stock valued at $47,728,528 over the last ninety days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.4 %

JPM traded up $0.72 during trading on Friday, reaching $194.38. The stock had a trading volume of 1,772,990 shares, compared to its average volume of 9,112,979. The stock’s 50 day moving average is $194.98 and its two-hundred day moving average is $182.78. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $558.20 billion, a price-to-earnings ratio of 11.62, a P/E/G ratio of 2.58 and a beta of 1.12. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. As a group, analysts expect that JPMorgan Chase & Co. will post 16.39 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

JPMorgan Chase & Co. 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.