Aspen Wealth Strategies LLC Sells 347 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Aspen Wealth Strategies LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,474 shares of the financial services provider’s stock after selling 347 shares during the quarter. JPMorgan Chase & Co. makes up 1.2% of Aspen Wealth Strategies LLC’s holdings, making the stock its 16th biggest holding. Aspen Wealth Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $1,833,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $33,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $43,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $288.60 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The firm has a market capitalization of $802.06 billion, a P/E ratio of 14.17, a P/E/G ratio of 2.62 and a beta of 1.10. The firm’s 50-day moving average price is $271.71 and its 200-day moving average price is $256.81.

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, topping analysts’ consensus estimates 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 company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the business posted $4.44 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Bank of America raised their price target on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. HSBC reaffirmed a “reduce” rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Morgan Stanley set a $240.00 price target on shares of JPMorgan Chase & Co. and gave the company an “equal weight” rating in a research report on Monday, July 7th. UBS Group upped their price target 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. Finally, Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $284.42.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares of the company’s stock, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by insiders.

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.