Royal Harbor Partners LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,052 shares of the financial services provider’s stock after selling 2,328 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.1% of Royal Harbor Partners LLC’s holdings, making the stock its 26th biggest holding. Royal Harbor Partners LLC’s holdings in JPMorgan Chase & Co. were worth $2,092,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of JPM. Retirement Financial Solutions LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $26,000. Creative Capital Management Investments LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $30,000. Adirondack Retirement Specialists Inc. increased its holdings in JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after buying an additional 189 shares during the period. Boulder Wealth Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $44,000. 70.10% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at JPMorgan Chase & Co.
In related news, CEO Douglas B. Petno sold 4,930 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total transaction of $700,848.80. Following the completion of the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at $39,401,207.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Peter Scher sold 2,482 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $141.39, for a total transaction of $350,929.98. Following the completion of the transaction, the insider now directly owns 41,333 shares of the company’s stock, valued at approximately $5,844,072.87. The disclosure for this sale can be found here. Insiders sold 145,861 shares of company stock worth $19,858,275 over the last three months. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Trading Up 1.6 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. The company had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 14.47 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm 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. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.71%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Odeon Capital Group raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday, May 1st. Evercore ISI cut their price objective on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, April 17th. The Goldman Sachs Group lifted their price target on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday, April 14th. Finally, Credit Suisse Group lifted their price target on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a report on Tuesday, April 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.
Read More
- Five stocks we like better than JPMorgan Chase & Co.
- How to Invest for Retirement at Age 60
- Guide to Early Retirement: How to Invest for Early Retirement
- How to Invest in Cryptocurrency for Beginners
- How to Invest for Retirement at Age 50
- How to Analyze a Stock: A Step-by-Step Guide
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
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.
