Successful Portfolios LLC Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Successful Portfolios LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,321 shares of the financial services provider’s stock after selling 403 shares during the period. Successful Portfolios LLC’s holdings in JPMorgan Chase & Co. were worth $665,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of JPM. Stone House Investment Management LLC increased its position in shares of JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Bare Financial Services Inc purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Partnership Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $36,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $40,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on JPM. Evercore ISI restated an “outperform” rating and issued a $210.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday. Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. UBS Group lifted their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research report on Tuesday, May 21st. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.65.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $208.29 on Thursday. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $210.38. The stock has a market cap of $598.14 billion, a P/E ratio of 12.58, a PEG ratio of 2.72 and a beta of 1.12. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average of $197.57 and a two-hundred day moving average of $186.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The business had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. As a group, research analysts predict that JPMorgan Chase & Co. will post 16.45 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the sale, the insider now owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the transaction, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The disclosure for this sale can be found here. Insiders sold a total of 250,565 shares of company stock valued at $46,962,717 over the last three months. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.