Sigma Investment Counselors Inc. Sells 2,844 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sigma Investment Counselors Inc. trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,594 shares of the financial services provider’s stock after selling 2,844 shares during the period. Sigma Investment Counselors Inc.’s holdings in JPMorgan Chase & Co. were worth $12,411,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after buying an additional 4,841 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in JPMorgan Chase & Co. by 1.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider’s stock valued at $5,115,000 after buying an additional 255 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider’s stock valued at $46,068,000 after buying an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE increased its position in JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider’s stock valued at $3,266,000 after buying an additional 1,893 shares in the last quarter. Finally, KKM Financial LLC increased its position in JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider’s stock valued at $4,040,000 after buying an additional 640 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the topic of several recent analyst reports. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday, July 7th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Monday, June 30th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $284.42.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of JPM opened at $286.78 on Monday. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $796.99 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.62 and a beta of 1.10. The stock’s 50-day moving average price is $270.98 and its 200-day moving average price is $256.48.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company’s stock.

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.