Raleigh Capital Management Inc. Sells 1,683 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Raleigh Capital Management Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 17.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,731 shares of the financial services provider’s stock after selling 1,683 shares during the quarter. Raleigh Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $471,000. Crown Wealth Group LLC boosted its position in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 222 shares during the last quarter. Disciplined Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $217,000. Hidden Cove Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 4.2% during the 1st 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 during the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 6.4% in the 1st quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock worth $4,953,000 after purchasing an additional 1,218 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on JPM shares. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Monday, July 7th. HSBC restated a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Bank of America lifted their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $284.42.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPM opened at $286.78 on Friday. The firm has a market cap of $796.99 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. 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. has a 1 year low of $190.90 and a 1 year high of $296.40. The company has a 50 day simple moving average of $270.98 and a two-hundred day simple moving average of $256.39.

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

JPMorgan Chase & Co. Dividend Announcement

The company 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 is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.95%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

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.