Correct Capital Wealth Management Sells 1,101 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Correct Capital Wealth Management trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,282 shares of the financial services provider's stock after selling 1,101 shares during the period. JPMorgan Chase & Co. comprises 0.4% of Correct Capital Wealth Management's investment portfolio, making the stock its 20th biggest holding. Correct Capital Wealth Management's holdings in JPMorgan Chase & Co. were worth $2,767,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vision Capital Management Inc. grew its holdings in JPMorgan Chase & Co. by 30.8% during the 1st quarter. Vision Capital Management Inc. now owns 9,240 shares of the financial services provider's stock valued at $2,267,000 after buying an additional 2,175 shares during the last quarter. Narus Financial Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.1% during the first quarter. Narus Financial Partners LLC now owns 4,057 shares of the financial services provider's stock worth $995,000 after purchasing an additional 85 shares during the last quarter. Telos Capital Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% during the first quarter. Telos Capital Management Inc. now owns 65,287 shares of the financial services provider's stock worth $16,015,000 after purchasing an additional 457 shares during the last quarter. Forza Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.8% during the first quarter. Forza Wealth Management LLC now owns 17,943 shares of the financial services provider's stock worth $4,401,000 after purchasing an additional 140 shares during the last quarter. Finally, Main Street Research LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.8% during the first quarter. Main Street Research LLC now owns 218,675 shares of the financial services provider's stock worth $53,641,000 after purchasing an additional 3,950 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction on Tuesday, May 20th. The shares were 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 in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the 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 completion of the sale, the chief operating officer 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 disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last three months. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded up $1.32 on Friday, reaching $291.22. 12,206,726 shares of the stock were exchanged, compared to its average volume of 9,516,542. The stock has a market cap of $809.33 billion, a PE ratio of 14.94, a PEG ratio of 2.53 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. The firm has a fifty day moving average price of $274.67 and a two-hundred day moving average price of $257.92.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates 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 for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.12 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 paid 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 1.92%. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

Analyst Ratings Changes

Several research analysts have commented on JPM shares. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective on the stock. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Company 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.