tru Independence LLC Sells 241 Shares of JPMorgan Chase & Co. (NYSE:JPM)

tru Independence LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,990 shares of the financial services provider’s stock after selling 241 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.2% of tru Independence LLC’s holdings, making the stock its 11th biggest holding. tru Independence LLC’s holdings in JPMorgan Chase & Co. were worth $7,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter valued at $33,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares of the company’s stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,200 shares of company stock valued at $18,060,015. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on JPM shares. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a “hold” rating for the company. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $288.68.

JPMorgan Chase & Co. Stock Down 0.3%

NYSE:JPM opened at $285.79 on Thursday. The firm’s 50-day moving average price is $273.18 and its 200-day moving average price is $257.22. The company has a market capitalization of $794.22 billion, a PE ratio of 14.66, a P/E/G ratio of 2.61 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 20.52% and a return on equity of 17.06%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.12 EPS. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.73%.

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.