Strait & Sound Wealth Management LLC Sells 562 Shares of JPMorgan Chase & Co. $JPM

Strait & Sound Wealth Management LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,890 shares of the financial services provider’s stock after selling 562 shares during the period. JPMorgan Chase & Co. comprises about 1.1% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 20th biggest position. Strait & Sound Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,577,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after purchasing an additional 4,841 shares during the period. Acorns Advisers LLC lifted its holdings in shares of JPMorgan Chase & Co. by 6.9% in the first quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 100 shares in the last quarter. Mainstream Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 2.6% in the first quarter. Mainstream Capital Management LLC now owns 8,481 shares of the financial services provider’s stock worth $2,080,000 after purchasing an additional 218 shares in the last quarter. O Brien Wealth Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 31.1% in the 1st quarter. O Brien Wealth Partners LLC now owns 1,181 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 280 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of JPMorgan Chase & Co. by 3.8% during the 1st quarter. Private Trust Co. NA now owns 40,916 shares of the financial services provider’s stock worth $10,037,000 after purchasing an additional 1,501 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the transaction, the director owned 82,207 shares in the company, valued at $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $311.85 on Thursday. JPMorgan Chase & Co. has a twelve month low of $202.16 and a twelve month high of $318.01. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $857.51 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.84 and a beta of 1.13. The company has a fifty day moving average of $305.66 and a 200-day moving average of $286.14.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.24. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.42 billion. During the same quarter in the prior year, the business earned $4.37 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Monday, October 6th were issued a dividend of $1.50 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on JPM shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $343.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Zacks Research upgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $326.38.

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.