Choreo LLC Sells 5,876 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Choreo LLC reduced its position in JPMorgan Chase & Co. by 3.3% in the first quarter, now holding 169,559 shares worth $41.6 million.
• Insider sales included General Counsel Stacey Friedman and CFO Jeremy Barnum, who sold a combined total of 42,835 shares valued at over $10 million.
• Research analysts maintain a mixed outlook, with ratings ranging from sell to strong buy, while the average price target for the stock is set at $288.68.

Choreo LLC cut its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169,559 shares of the financial services provider's stock after selling 5,876 shares during the quarter. Choreo LLC's holdings in JPMorgan Chase & Co. were worth $41,593,000 as of its most recent SEC filing.

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

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the business'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 sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on JPM shares. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. UBS Group upped their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Trading Down 1.1%

Shares of NYSE JPM traded down $3.42 during trading hours on Thursday, hitting $296.22. The company's stock had a trading volume of 2,076,304 shares, compared to its average volume of 10,027,213. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market cap of $823.21 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $301.29. The business has a 50-day simple moving average of $279.75 and a 200-day simple moving average of $260.92.

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 (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm earned $6.12 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.89%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

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.