Avantax Planning Partners Inc. Sells 1,676 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Avantax Planning Partners Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the first quarter, HoldingsChannel.com reports. The fund owned 51,598 shares of the financial services provider’s stock after selling 1,676 shares during the quarter. Avantax Planning Partners Inc.’s holdings in JPMorgan Chase & Co. were worth $12,657,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Silver Oak Securities Incorporated increased its stake in JPMorgan Chase & Co. by 2.9% in the first quarter. Silver Oak Securities Incorporated now owns 7,881 shares of the financial services provider’s stock valued at $1,914,000 after acquiring an additional 225 shares during the last quarter. Calamos Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.2% during the first quarter. Calamos Wealth Management LLC now owns 24,285 shares of the financial services provider’s stock worth $5,957,000 after buying an additional 286 shares during the last quarter. Aviance Capital Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 0.3% during the first quarter. Aviance Capital Partners LLC now owns 82,900 shares of the financial services provider’s stock worth $20,335,000 after buying an additional 235 shares during the last quarter. Moody Aldrich Partners LLC grew its stake in shares of JPMorgan Chase & Co. by 9.9% during the first quarter. Moody Aldrich Partners LLC now owns 2,593 shares of the financial services provider’s stock worth $636,000 after buying an additional 233 shares during the last quarter. Finally, Sterling Financial Planning Inc. grew its stake in shares of JPMorgan Chase & Co. by 3.4% during the first quarter. Sterling Financial Planning Inc. now owns 2,139 shares of the financial services provider’s stock worth $525,000 after buying an additional 71 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $282.94 on Thursday. The firm has a market cap of $786.32 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.62 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The company’s fifty day simple moving average is $269.48 and its 200 day simple moving average is $255.64.

JPMorgan Chase & Co. (NYSE:JPM) last released its 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. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the previous year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.98%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JPM shares. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 target price on the stock. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a “hold” rating on the stock. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Monday. Finally, Truist Financial lifted their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $280.45.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 6,608 shares of the business’s stock in a transaction dated 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 completion of the sale, the general counsel directly owned 36,520 shares of the company’s stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jennifer Piepszak sold 6,129 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the sale, the chief operating officer directly owned 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 over the last three months. 0.47% of the stock is currently owned by company insiders.

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.