WMG Financial Advisors LLC decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 40.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,340 shares of the financial services provider’s stock after selling 896 shares during the quarter. WMG Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $324,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Twelve Points Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 2.0% during the 1st quarter. Twelve Points Wealth Management LLC now owns 18,114 shares of the financial services provider’s stock worth $2,360,000 after buying an additional 358 shares in the last quarter. First Hawaiian Bank boosted its position in JPMorgan Chase & Co. by 1.7% during the first quarter. First Hawaiian Bank now owns 55,514 shares of the financial services provider’s stock valued at $7,234,000 after purchasing an additional 935 shares in the last quarter. M. Kraus & Co boosted its position in JPMorgan Chase & Co. by 9.5% during the first quarter. M. Kraus & Co now owns 8,234 shares of the financial services provider’s stock valued at $1,073,000 after purchasing an additional 717 shares in the last quarter. Clarus Group Inc. boosted its position in JPMorgan Chase & Co. by 2.3% during the first quarter. Clarus Group Inc. now owns 8,375 shares of the financial services provider’s stock valued at $1,091,000 after purchasing an additional 190 shares in the last quarter. Finally, Archford Capital Strategies LLC boosted its position in JPMorgan Chase & Co. by 16.8% during the first quarter. Archford Capital Strategies LLC now owns 20,279 shares of the financial services provider’s stock valued at $2,588,000 after purchasing an additional 2,915 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.
JPMorgan Chase & Co. Trading Up 1.4 %
Shares of NYSE:JPM opened at $145.44 on Monday. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $146.00. The stock has a market cap of $425.02 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.97 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average price of $138.75 and a 200-day moving average price of $136.81.
JPMorgan Chase & Co. (NYSE:JPM – Free Report) last announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.69. The company had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the business earned $2.63 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 14.53 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.
Insider Activity at JPMorgan Chase & Co.
In related news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the transaction, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other JPMorgan Chase & Co. news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the sale, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas B. Petno sold 4,932 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $134.90, for a total value of $665,326.80. Following the completion of the sale, the chief executive officer now directly owns 282,091 shares in the company, valued at $38,054,075.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
JPM has been the topic of a number of recent research reports. Oppenheimer raised their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” rating in a research report on Monday, April 17th. Credit Suisse Group raised their price objective on JPMorgan Chase & Co. from $155.00 to $160.00 in a research report on Tuesday, April 18th. Evercore ISI dropped their price objective on JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Royal Bank of Canada dropped their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, March 24th. Finally, 92 Resources reissued a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Friday, May 12th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.35.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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