Bank of Nova Scotia Trust Co. Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Bank of Nova Scotia Trust Co. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,483 shares of the financial services provider’s stock after selling 927 shares during the period. JPMorgan Chase & Co. makes up about 1.6% of Bank of Nova Scotia Trust Co.’s investment portfolio, making the stock its 22nd largest holding. Bank of Nova Scotia Trust Co.’s holdings in JPMorgan Chase & Co. were worth $14,719,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Stone House Investment Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 132.8% in the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after buying an additional 89 shares during the last quarter. Retirement Group LLC boosted its stake in shares of JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after buying an additional 109 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter worth $34,000. Bare Financial Services Inc purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $35,000. Finally, Partnership Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $36,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred 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 completion of the transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ashley Bacon sold 5,086 shares of the firm’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 completion of the sale, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,343 shares of company stock worth $14,137,789. 0.79% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore ISI raised their price target 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. Jefferies Financial Group raised their target price on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. 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 report on Tuesday, May 21st. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $202.89.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM traded up $3.57 during midday trading on Friday, reaching $212.24. 8,027,787 shares of the stock traded hands, compared to its average volume of 9,013,996. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The stock has a market capitalization of $609.48 billion, a PE ratio of 11.84, a P/E/G ratio of 2.49 and a beta of 1.12. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $217.56. The company’s 50 day moving average is $202.39 and its 200 day moving average is $191.75.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to the consensus estimate 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 company earned $4.37 EPS. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.17%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

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.