Optimum Investment Advisors Sells 697 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Optimum Investment Advisors cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,229 shares of the financial services provider’s stock after selling 697 shares during the quarter. JPMorgan Chase & Co. makes up about 1.4% of Optimum Investment Advisors’ holdings, making the stock its 13th biggest position. Optimum Investment Advisors’ holdings in JPMorgan Chase & Co. were worth $3,000,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth about $33,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $37,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on JPM shares. Wells Fargo & Company reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Monday, July 7th. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Morgan Stanley set a $240.00 price objective on JPMorgan Chase & Co. and gave the company an “equal weight” rating in a research note on Monday, July 7th. Finally, KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $284.42.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $288.60 on Tuesday. The stock’s 50-day simple moving average is $271.71 and its two-hundred day simple moving average is $256.81. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month 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 company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. JPMorgan Chase & Co.’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.44 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.94%. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Insider Activity at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company 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.