Barnes Pettey Financial Advisors LLC Sells 60 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Barnes Pettey Financial Advisors LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,766 shares of the financial services provider’s stock after selling 60 shares during the period. JPMorgan Chase & Co. accounts for 1.1% of Barnes Pettey Financial Advisors LLC’s portfolio, making the stock its 25th biggest position. Barnes Pettey Financial Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,414,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $471,000. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $217,000. LGT Group Foundation boosted its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after buying an additional 14,300 shares in the last quarter. Hidden Cove Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after buying an additional 112 shares in the last quarter. Finally, Kinsale Capital Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after buying an additional 4,375 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares of the company’s stock, valued at $22,884,750. This trade represents a 9.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. KGI Securities began coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a “hold” rating on the stock. TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, June 10th. Finally, Citigroup reiterated a “neutral” rating and issued a $275.00 target price (up from $250.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $277.74.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $296.13 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $265.91 and its two-hundred day simple moving average is $254.16. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The stock has a market cap of $822.96 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 2.72 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period last year, the business earned $4.44 EPS. The business’s revenue was up 8.0% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

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.