Heritage Wealth Management Inc. Sells 1,284 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Heritage Wealth Management Inc. lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,457 shares of the financial services provider's stock after selling 1,284 shares during the quarter. JPMorgan Chase & Co. accounts for 2.7% of Heritage Wealth Management Inc.'s investment portfolio, making the stock its 5th biggest position. Heritage Wealth Management Inc.'s holdings in JPMorgan Chase & Co. were worth $7,962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. SOA Wealth Advisors LLC. raised its position in JPMorgan Chase & Co. by 1.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock valued at $5,115,000 after purchasing an additional 255 shares during the period. Bank Pictet & Cie Europe AG raised its position in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after purchasing an additional 1,229 shares during the period. Highview Capital Management LLC DE raised its position in JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after purchasing an additional 1,893 shares during the period. Finally, KKM Financial LLC raised its position in JPMorgan Chase & Co. by 3.9% in the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after purchasing an additional 640 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.5%

NYSE:JPM opened at $286.78 on Friday. The firm has a market capitalization of $796.99 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. The stock has a 50 day moving average of $270.98 and a 200-day moving average of $256.39. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating 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 return on equity of 16.88% and a net margin of 21.21%. The business's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.44 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.95%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating on the stock. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average price target of $284.42.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 6,608 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 transaction of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company's stock.

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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