K.J. Harrison & Partners Inc Sells 26,756 Shares of JPMorgan Chase & Co. (NYSE:JPM)

K.J. Harrison & Partners Inc trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 42.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,835 shares of the financial services provider’s stock after selling 26,756 shares during the period. JPMorgan Chase & Co. comprises 1.7% of K.J. Harrison & Partners Inc’s portfolio, making the stock its 11th largest position. K.J. Harrison & Partners Inc’s holdings in JPMorgan Chase & Co. were worth $8,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Convergence Financial LLC increased its position in shares of JPMorgan Chase & Co. by 3.4% during the first quarter. Convergence Financial LLC now owns 15,458 shares of the financial services provider’s stock valued at $3,792,000 after buying an additional 508 shares during the period. Guardian Asset Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 1.4% during the first quarter. Guardian Asset Advisors LLC now owns 4,897 shares of the financial services provider’s stock valued at $1,202,000 after buying an additional 69 shares during the period. Capital Advisors Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 16.3% during the first quarter. Capital Advisors Wealth Management LLC now owns 11,889 shares of the financial services provider’s stock valued at $2,916,000 after buying an additional 1,670 shares during the period. CFM Wealth Partners LLC increased its position in shares of JPMorgan Chase & Co. by 4.4% during the first quarter. CFM Wealth Partners LLC now owns 32,832 shares of the financial services provider’s stock valued at $8,054,000 after buying an additional 1,395 shares during the period. Finally, Uniting Wealth Partners LLC increased its position in shares of JPMorgan Chase & Co. by 2.9% during the first quarter. Uniting Wealth Partners LLC now owns 3,145 shares of the financial services provider’s stock valued at $771,000 after buying an additional 88 shares during the period. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on JPM shares. Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an “equal weight” rating in a research report on Monday, June 23rd. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. Finally, TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. 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. currently has an average rating of “Hold” and an average target price of $277.74.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.4%

NYSE:JPM opened at $296.13 on Friday. The company’s 50 day moving average price is $265.91 and its 200-day moving average price is $254.16. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock has a market cap of $822.96 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.72 and a beta of 1.10.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

JPMorgan Chase & Co. Company Profile

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.