Benjamin Edwards Inc. Sells 21,761 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Benjamin Edwards Inc. has reduced its holdings in JPMorgan Chase & Co. by 14.8%, selling 21,761 shares, and resulting in ownership of 125,464 shares valued at approximately $30.77 million.
• JPMorgan Chase recently reported earnings of $4.96 per share, exceeding analysts' expectations, with a revenue of $44.91 billion for the quarter, despite a year-over-year decline in revenue.
• The company announced a quarterly dividend of $1.40 per share, reflecting an annualized dividend yield of 1.9%, with a payout ratio of 28.73%.

Benjamin Edwards Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 14.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 125,464 shares of the financial services provider's stock after selling 21,761 shares during the period. Benjamin Edwards Inc.'s holdings in JPMorgan Chase & Co. were worth $30,776,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $30,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $54,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.8%

JPM stock opened at $290.49 on Thursday. The firm has a fifty day moving average price of $285.29 and a 200 day moving average price of $263.25. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $798.78 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted 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 net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period last year, the firm posted $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. 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 transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. The trade was a 8.94% 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 valued at $4,113,796 over the last ninety days. 0.47% of the stock is owned by insiders.

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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