Parr Mcknight Wealth Management Group LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Parr Mcknight Wealth Management Group LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPMFree Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,333 shares of the financial services provider’s stock after selling 1,219 shares during the period. JPMorgan Chase & Co. accounts for about 1.6% of Parr Mcknight Wealth Management Group LLC’s portfolio, making the stock its 7th biggest position. Parr Mcknight Wealth Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $11,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the business’s 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 transaction, the general counsel owned 36,520 shares in the company, valued at approximately $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 worth $18,060,015 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on JPM. KGI Securities began coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a “hold” rating on the stock. Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an “overweight” rating in a research note on Wednesday. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a “buy” rating and a $305.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.68.

View Our Latest Stock Analysis on JPMorgan Chase & Co.

JPMorgan Chase & Co. Trading Down 0.3%

Shares of JPM stock opened at $285.79 on Thursday. 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 business has a 50-day moving average price of $273.18 and a two-hundred day moving average price of $257.22. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The firm has a market cap of $794.22 billion, a P/E ratio of 14.66, a price-to-earnings-growth ratio of 2.61 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 17.06% and a net margin of 20.52%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.12 earnings per share. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.96%. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.73%.

About JPMorgan Chase & Co.

(Free Report)

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.

See Also

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.