Sunbelt Securities Inc. Has $6.27 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sunbelt Securities Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 12.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,566 shares of the financial services provider’s stock after selling 3,783 shares during the period. Sunbelt Securities Inc.’s holdings in JPMorgan Chase & Co. were worth $6,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fourth Dimension Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $471,000. Disciplined Investments LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $217,000. LGT Group Foundation grew its stake in JPMorgan Chase & Co. by 2.8% in the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after purchasing an additional 14,300 shares in the last quarter. Hidden Cove Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 112 shares in the last quarter. Finally, Kinsale Capital Group Inc. grew its stake in JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,375 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated 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 transaction, the director owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer directly owned 18,017 shares of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 over the last quarter. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

JPM opened at $296.13 on Friday. The company 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. The stock has a 50-day moving average of $265.91 and a 200-day moving average of $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 debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the previous year, the firm earned $4.44 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.89%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Analyst Ratings Changes

A number of research analysts have commented on JPM shares. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, June 23rd. UBS Group boosted their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating on the stock. Finally, TD Cowen started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a “buy” rating and a $305.00 target price on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $277.74.

JPMorgan Chase & Co. 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.