Atlas Wealth LLC Sells 943 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Atlas Wealth LLC has reduced its holdings in JPMorgan Chase & Co. by 3.3%, now owning 27,661 shares valued at approximately $6.79 million.
• Insider selling at JPMorgan saw COO Jennifer Piepszak and General Counsel Stacey Friedman offload shares, resulting in an 8.94% and 15.32% decrease in their respective positions.
• The company reported $4.96 EPS for the latest quarter, exceeding estimates, but noted a 10.5% decline in year-over-year revenue.

Atlas Wealth LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,661 shares of the financial services provider's stock after selling 943 shares during the period. JPMorgan Chase & Co. makes up about 2.6% of Atlas Wealth LLC's investment portfolio, making the stock its 11th largest position. Atlas Wealth LLC's holdings in JPMorgan Chase & Co. were worth $6,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. GAMMA Investing LLC lifted its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Northern Trust Corp raised its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after buying an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after buying an additional 2,551,899 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after buying an additional 2,465,572 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of JPMorgan Chase & Co. by 457.7% in the fourth quarter. APG Asset Management N.V. now owns 2,725,473 shares of the financial services provider's stock worth $630,925,000 after buying an additional 2,236,740 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on JPM. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a report on Friday, June 27th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Finally, Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,755,811.68. Following the sale, the general counsel owned 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock worth $4,113,796 in the last ninety days. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded down $4.32 during trading hours on Thursday, reaching $287.03. 8,055,914 shares of the company were exchanged, compared to its average volume of 8,559,338. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The stock has a 50-day moving average of $282.79 and a 200 day moving average of $262.34. The firm has a market cap of $797.67 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.94 and a beta of 1.11.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.0%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

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.