Baker Avenue Asset Management LP Sells 4,434 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Baker Avenue Asset Management LP cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 212,602 shares of the financial services provider's stock after selling 4,434 shares during the period. JPMorgan Chase & Co. accounts for about 1.6% of Baker Avenue Asset Management LP's investment portfolio, making the stock its 17th biggest holding. Baker Avenue Asset Management LP's holdings in JPMorgan Chase & Co. were worth $52,151,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in JPMorgan Chase & Co. during the first quarter worth approximately $28,000. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth about $33,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $37,000. Finally, Measured Risk Portfolios Inc. acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $44,000. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on JPM. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. HSBC reissued a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated 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 directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,557 shares of company stock worth $4,113,796 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded up $1.61 during mid-day trading on Friday, reaching $288.55. The stock had a trading volume of 6,633,369 shares, compared to its average volume of 10,026,404. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The stock has a market capitalization of $801.91 billion, a PE ratio of 14.81, a P/E/G ratio of 1.94 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The stock has a 50-day simple moving average of $283.24 and a two-hundred day simple moving average of $262.53.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed 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 was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 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.