Stratos Wealth Partners LTD. Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Stratos Wealth Partners LTD. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 28.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,868 shares of the financial services provider’s stock after selling 79,866 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.7% of Stratos Wealth Partners LTD.’s portfolio, making the stock its 22nd biggest holding. Stratos Wealth Partners LTD.’s holdings in JPMorgan Chase & Co. were worth $49,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fourth Dimension Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $471,000. Crown Wealth Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 222 shares during the period. Hidden Cove Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after buying an additional 112 shares during the period. Aaron Wealth Advisors LLC lifted its position in JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock worth $4,953,000 after buying an additional 1,218 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in JPMorgan Chase & Co. by 11.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after buying an additional 1,561 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on JPM. Hsbc Global Res downgraded JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 8th. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. HSBC reaffirmed a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $284.42.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value 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 $22,884,750. This represents a 9.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $288.60 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The business has a 50-day moving average of $271.71 and a 200-day moving average of $256.81. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $802.06 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 2.62 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. JPMorgan Chase & Co.’s quarterly 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 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

About JPMorgan Chase & Co.

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.