Acorn Wealth Advisors LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Acorn Wealth Advisors LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,486 shares of the financial services provider’s stock after selling 109 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.3% of Acorn Wealth Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Acorn Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $3,063,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Ballentine Partners LLC lifted its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Ballentine Partners LLC now owns 92,461 shares of the financial services provider’s stock valued at $22,681,000 after purchasing an additional 1,698 shares during the period. Focused Wealth Management Inc increased its stake in shares of JPMorgan Chase & Co. by 2.8% in the 1st quarter. Focused Wealth Management Inc now owns 10,411 shares of the financial services provider’s stock valued at $2,554,000 after purchasing an additional 288 shares in the last quarter. Stillwater Wealth Management Group increased its stake in shares of JPMorgan Chase & Co. by 6.7% in the 1st quarter. Stillwater Wealth Management Group now owns 13,942 shares of the financial services provider’s stock valued at $3,420,000 after purchasing an additional 870 shares in the last quarter. Rational Advisors Inc. increased its stake in shares of JPMorgan Chase & Co. by 41.9% in the 1st quarter. Rational Advisors Inc. now owns 2,775 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 820 shares in the last quarter. Finally, Riversedge Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 12.6% in the 1st quarter. Riversedge Advisors LLC now owns 2,911 shares of the financial services provider’s stock valued at $714,000 after purchasing an additional 326 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of several research analyst reports. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research report on Monday, June 30th. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares of the company’s stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $291.22 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The firm has a market capitalization of $809.33 billion, a P/E ratio of 14.94, a P/E/G ratio of 2.53 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The company’s fifty day moving average price is $274.67 and its 200 day moving average price is $257.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $6.12 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.73%.

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.