Venturi Wealth Management LLC Purchases 50,398 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Venturi Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 281.0% during the first quarter, HoldingsChannel.com reports. The firm owned 68,332 shares of the financial services provider’s stock after buying an additional 50,398 shares during the period. JPMorgan Chase & Co. accounts for about 0.9% of Venturi Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding. Venturi Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $16,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at approximately $33,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $37,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an “outperform” rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods boosted their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Finally, Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective on the stock. in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.68.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the sale, the general counsel directly owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This represents a 15.32% decrease in their position. 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 in the last ninety days. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of NYSE:JPM opened at $298.22 on Tuesday. 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 stock has a market cap of $828.78 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.10. The company has a 50 day moving average of $278.35 and a 200-day moving average of $260.40. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $299.59.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 28.73%.

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.