Great Point Wealth Advisors LLC Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Great Point Wealth Advisors LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 5,665 shares of the financial services provider’s stock after selling 147 shares during the quarter. Great Point Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in JPM. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at $29,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $37,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $291.95 on Tuesday. The firm’s 50 day simple moving average is $267.94 and its 200-day simple moving average is $255.26. The company has a market cap of $811.36 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 2.75 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 fifty-two week low of $190.90 and a fifty-two week high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $4.44 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating on the stock. Morgan Stanley set a $240.00 target price on shares of JPMorgan Chase & Co. and gave the company an “equal weight” rating in a research report on Monday. 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. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday. Finally, Wells Fargo & Company restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $277.74.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. 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. Company insiders own 0.47% of the company’s stock.

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.