Sterling Financial Planning Inc. Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Sterling Financial Planning Inc. grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the first quarter, HoldingsChannel reports. The fund owned 2,139 shares of the financial services provider’s stock after acquiring an additional 71 shares during the quarter. Sterling Financial Planning Inc.’s holdings in JPMorgan Chase & Co. were worth $525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in JPMorgan Chase & Co. by 1.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider’s stock worth $5,115,000 after buying an additional 255 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider’s stock worth $46,068,000 after buying an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE grew its stake in JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider’s stock worth $3,266,000 after buying an additional 1,893 shares during the last quarter. Finally, KKM Financial LLC grew its stake in JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider’s stock valued at $4,040,000 after purchasing an additional 640 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Monday, June 30th. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. Finally, Keefe, Bruyette & Woods upgraded JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating and set a $327.00 price target on the stock in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $280.45.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,129 shares of the company’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 completion of the transaction, the chief operating officer directly owned 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the sale, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Up 0.1%

JPM opened at $282.94 on Thursday. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The business has a fifty day simple moving average of $269.48 and a 200-day simple moving average of $255.64. The firm has a market cap of $786.32 billion, a P/E ratio of 13.89, a P/E/G 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. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $4.44 earnings per share. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend 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%.

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.