Hennessy Advisors Inc. Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Hennessy Advisors Inc. reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 84.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,500 shares of the financial services provider's stock after selling 30,300 shares during the period. Hennessy Advisors Inc.'s holdings in JPMorgan Chase & Co. were worth $1,349,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of JPM. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,272 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the completion of the sale, the chief operating officer now owns 50,197 shares of the company's stock, valued at approximately $12,400,164.91. The trade was a 7.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares of the company's stock, valued at approximately $12,130,438.84. The trade was a 2.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $264.72 on Monday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The firm has a market cap of $735.69 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The company has a 50 day moving average price of $252.10 and a 200-day moving average price of $250.57. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.44 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Bank of America lowered their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Finally, Robert W. Baird lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $269.65.

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.

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