Taylor Hoffman Wealth Management reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 6.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,635 shares of the financial services provider after selling 319 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in JPMorgan Chase & Co. were worth $928,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banco BTG Pactual SA increased its holdings in JPMorgan Chase & Co. by 66.6% in the first quarter. Banco BTG Pactual SA now owns 14,738 shares of the financial services provider’s stock worth $2,935,000 after purchasing an additional 5,893 shares during the same period. Gratus Wealth Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 4.3% in the first quarter. Gratus Wealth Advisors LLC now owns 1,901 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 78 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in JPMorgan Chase & Co. by 0.8% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 90,789 shares of the financial services provider’s stock valued at $18,185,000 after purchasing an additional 704 shares during the period. Brighton Jones LLC increased its stake in JPMorgan Chase & Co. by 2.8% in the first quarter. Brighton Jones LLC now owns 41,771 shares of the financial services provider’s stock valued at $8,367,000 after purchasing an additional 1,122 shares during the period. Finally, Wilkins Investment Counsel Inc. increased its stake in JPMorgan Chase & Co. by 379.3% in the first quarter. Wilkins Investment Counsel Inc. now owns 24,782 shares of the financial services provider’s stock valued at $4,964,000 after purchasing an additional 19,612 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.
Changes in analyst ratings
JPM has been the subject of numerous research analyst reports. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Barclays increased their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Robert W. Baird increased their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21. Finally, Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating. The company has an average rating of “moderate buy” and a consensus price target of $202.89, according to data from MarketBeat.com.
Get our latest analysis on JPM
Insiders place their bets
In other news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. in a transaction that occurred on Monday, May 6. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the transaction, the insider now owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available on the SEC’s website. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, June 10. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. in a transaction that occurred on Monday, May 6. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the transaction, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The disclosure regarding this sale can be found here. During the last quarter, insiders have sold 72,343 shares of the company’s stock, valued at $14,137,789. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. share price development
NYSE JPM shares opened at $210.33 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The company has a 50-day simple moving average of $201.81 and a 200-day simple moving average of $190.81. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $217.56. The company has a market cap of $604.00 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.46 and a beta of 1.12.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its earnings results on Friday, July 12. The financial services provider reported earnings per share of $6.12 for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The company had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the company reported earnings per share of $4.37. Sell-side analysts expect JPMorgan Chase & Co. to report earnings per share of $16.67 for the current year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will receive a dividend of $1.15 per share. This represents an annualized dividend of $4.60 and a yield of 2.19%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.66%.
JPMorgan Chase & Co. Profile
(Free report)
JPMorgan Chase & Co is a global financial services company. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB) and Asset & Wealth Management (AWM). The CCB segment provides deposit, investment and lending products, cash management and payments and services, mortgage origination and servicing, mortgage loans and home equity loans, as well as credit cards, auto loans, leasing and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
See also
Want to see which other hedge funds hold JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Get daily news and reviews about JPMorgan Chase & Co. – 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.
