Beacon Investment Advisory Services Inc. Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Beacon Investment Advisory Services Inc. reduced its position in JPMorgan Chase & Co. by 1.6%, holding a total of 263,612 shares valued at approximately $64.7 million at the end of the last reporting period.
• Other institutional investors have increased their stakes in JPMorgan, with Brighton Jones LLC boosting its holdings by 11% in the fourth quarter, indicating a mixed sentiment within the investment community.
• Analysts maintain a generally positive outlook on JPMorgan, with an average rating of "Moderate Buy" and a consensus price target of $288.68, suggesting potential growth for investors.

Beacon Investment Advisory Services Inc. trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 263,612 shares of the financial services provider's stock after selling 4,213 shares during the quarter. JPMorgan Chase & Co. makes up 3.0% of Beacon Investment Advisory Services Inc.'s portfolio, making the stock its 6th biggest position. Beacon Investment Advisory Services Inc.'s holdings in JPMorgan Chase & Co. were worth $64,664,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after buying an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE grew its position in shares of JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after buying an additional 1,893 shares during the period. KKM Financial LLC grew its position in shares of JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after buying an additional 640 shares during the period. Finally, Ashton Thomas Securities LLC increased its stake in shares of JPMorgan Chase & Co. by 13.8% in the 4th quarter. Ashton Thomas Securities LLC now owns 8,367 shares of the financial services provider's stock valued at $2,003,000 after acquiring an additional 1,012 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on JPM shares. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. UBS Group upped their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Finally, Morgan Stanley raised their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Three equities research 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 stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction 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 represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Down 0.1%

Shares of JPMorgan Chase & Co. stock opened at $298.22 on Tuesday. The firm has a market cap of $828.78 billion, a PE ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.10. The business's 50 day simple moving average is $278.35 and its 200 day simple moving average is $260.40. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $299.59.

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, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for 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%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company earned $6.12 earnings per share. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal 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 annualized dividend and a yield of 1.88%. 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.

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