JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Altus Wealth Group LLC

Altus Wealth Group LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,782 shares of the financial services provider’s stock after selling 905 shares during the quarter. JPMorgan Chase & Co. accounts for 0.8% of Altus Wealth Group LLC’s investment portfolio, making the stock its 27th largest position. Altus Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,664,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC grew its position in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 38 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock valued at $1,328,000 after acquiring an additional 40 shares in the last quarter. Wimmer Associates 1 LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock valued at $986,000 after acquiring an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock valued at $3,340,000 after acquiring an additional 40 shares in the last quarter. Finally, Rockbridge Investment Management LCC boosted its holdings in shares of JPMorgan Chase & Co. by 2.3% in the fourth quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 41 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $296.13 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock has a market cap of $822.96 billion, a P/E ratio of 14.54, a PEG ratio of 2.75 and a beta of 1.10. The company has a 50-day moving average of $266.97 and a two-hundred day moving average of $254.73. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.44 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Analyst Ratings Changes

Several brokerages have recently weighed in on JPM. Citigroup reaffirmed a “neutral” rating and issued a $275.00 target price (up previously from $250.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, June 25th. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating on the stock. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 target price on the stock. Finally, Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $277.74.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,129 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the transaction, the chief operating officer owned 68,583 shares of the company’s stock, valued at $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.