Financial Insights Inc. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Financial Insights Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,450 shares of the financial services provider’s stock after selling 153 shares during the quarter. Financial Insights Inc.’s holdings in JPMorgan Chase & Co. were worth $601,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Goodman Advisory Group LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $76,000. Cohen Investment Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 1,993.3% during the first quarter. Cohen Investment Advisors LLC now owns 464,662 shares of the financial services provider’s stock worth $113,982,000 after acquiring an additional 442,464 shares during the last quarter. Joel Isaacson & Co. LLC grew its stake in JPMorgan Chase & Co. by 4.2% in the first quarter. Joel Isaacson & Co. LLC now owns 51,603 shares of the financial services provider’s stock worth $12,658,000 after purchasing an additional 2,099 shares in the last quarter. TBH Global Asset Management LLC grew its stake in JPMorgan Chase & Co. by 105.1% in the first quarter. TBH Global Asset Management LLC now owns 21,849 shares of the financial services provider’s stock worth $5,360,000 after purchasing an additional 11,197 shares in the last quarter. Finally, Convergence Financial LLC grew its stake in JPMorgan Chase & Co. by 3.4% in the first quarter. Convergence Financial LLC now owns 15,458 shares of the financial services provider’s stock worth $3,792,000 after purchasing an additional 508 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was 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. The trade was a 68.95% decrease in their ownership of the stock. 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 three months. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $296.13 on Friday. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The stock has a market cap of $822.96 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.75 and a beta of 1.10. The stock’s 50 day moving average price is $266.97 and its 200 day moving average price is $254.56. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

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

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date 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 currently 27.49%.

Analyst Ratings Changes

A number of brokerages have commented on JPM. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price for the company. in a research note on Friday, June 27th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. KGI Securities began coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Citigroup restated a “neutral” rating and issued a $275.00 target price (up from $250.00) on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 25th. Finally, Morgan Stanley lifted 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $277.74.

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.