Advisory Alpha LLC Sells 3,498 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Advisory Alpha LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 29.4% in the first quarter, HoldingsChannel.com reports. The fund owned 8,388 shares of the financial services provider’s stock after selling 3,498 shares during the period. Advisory Alpha LLC’s holdings in JPMorgan Chase & Co. were worth $2,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. DDD Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after buying an additional 38 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after buying an additional 38 shares during the period. Yoder Wealth Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after buying an additional 39 shares during the period. Almanack Investment Partners LLC. boosted its holdings in shares of JPMorgan Chase & Co. by 0.8% during the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after buying an additional 39 shares during the period. Finally, Hurlow Wealth Management Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 40 shares during the period. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 6,608 shares of the company’s stock in a transaction 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 completion of the sale, the general counsel now directly owns 36,520 shares in the company, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This trade represents a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,594 shares of company stock worth $23,991,061. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. Bank of America reduced their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $285.00 price objective (up previously from $255.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.65.

JPMorgan Chase & Co. Trading Down 0.2%

JPM opened at $263.97 on Friday. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a fifty day moving average of $245.86 and a 200-day moving average of $249.13. The stock has a market cap of $733.60 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company posted $4.44 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

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.