Beach Investment Counsel Inc. PA decreased its position in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,384 shares of the financial services provider’s stock after selling 12,536 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of Beach Investment Counsel Inc. PA’s investment portfolio, making the stock its 20th biggest position. Beach Investment Counsel Inc. PA’s holdings in JPMorgan Chase & Co. were worth $9,563,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P boosted its stake in shares of JPMorgan Chase & Co. by 81.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after buying an additional 99,636 shares during the period. BCK Partners Inc. bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $2,455,000. LSV Asset Management boosted its stake in shares of JPMorgan Chase & Co. by 35.6% in the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after buying an additional 9,800 shares during the period. Wsfs Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 70.8% in the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after buying an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC boosted its stake in shares of JPMorgan Chase & Co. by 1,451.4% in the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after buying an additional 3,527 shares during the period. Institutional investors and hedge funds own 70.10% of the company’s stock.
Insider Buying and Selling
In related news, CEO Douglas B. Petno sold 4,932 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $134.90, for a total transaction of $665,326.80. Following the completion of the transaction, the chief executive officer now directly owns 282,091 shares of the company’s stock, valued at approximately $38,054,075.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas B. Petno sold 4,932 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $134.90, for a total value of $665,326.80. Following the completion of the transaction, the chief executive officer now directly owns 282,091 shares of the company’s stock, valued at $38,054,075.90. The disclosure for this sale can be found here. Insiders sold a total of 145,861 shares of company stock valued at $19,858,275 in the last three months. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.69. The business had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. JPMorgan Chase & Co.’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $2.63 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 14.47 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price target on JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Bank of America upped their target price on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. StockNews.com initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Royal Bank of Canada cut their target price on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $158.94.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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