Allworth Financial LP Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Allworth Financial LP lessened its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 335,592 shares of the financial services provider's stock after selling 3,308 shares during the quarter. Allworth Financial LP's holdings in JPMorgan Chase & Co. were worth $82,099,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $29,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $33,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the transaction, the general counsel owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last ninety days. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM traded up $1.32 on Friday, hitting $291.22. 12,202,625 shares of the company traded hands, compared to its average volume of 9,528,081. The business's 50 day moving average price is $273.91 and its 200-day moving average price is $257.56. The company has a market capitalization of $809.33 billion, a price-to-earnings ratio of 14.94, a P/E/G ratio of 2.59 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company's revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 earnings per share. Equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective 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. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, Evercore ISI set a $298.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

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.