First Foundation Advisors Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

First Foundation Advisors cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,495 shares of the financial services provider's stock after selling 6,952 shares during the period. JPMorgan Chase & Co. makes up 1.2% of First Foundation Advisors' portfolio, making the stock its 19th largest holding. First Foundation Advisors' holdings in JPMorgan Chase & Co. were worth $29,557,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in JPM. Florida Financial Advisors LLC grew its stake in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after purchasing an additional 3,792 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth $471,000. Crown Wealth Group LLC grew its position in shares of JPMorgan Chase & Co. by 5.4% during the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after buying an additional 222 shares in the last quarter. Morse Asset Management Inc increased its stake in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after buying an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 112 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded up $0.07 during trading hours on Wednesday, reaching $291.44. 6,326,839 shares of the company traded hands, compared to its average volume of 10,062,375. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average price of $282.23 and a 200-day moving average price of $262.14. JPMorgan Chase & Co. has a 12-month low of $200.20 and a 12-month high of $301.29. The stock has a market capitalization of $809.93 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.97 and a beta of 1.11.

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

JPMorgan Chase & Co. Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently weighed in on JPM. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. HSBC reissued a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, July 7th. 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock worth $4,113,796 over the last three months. 0.47% of the stock is currently owned by insiders.

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.