JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its holdings in JPMorgan Chase & Co. by 5.9%, retaining approximately $665.09 million in shares, which constitute 0.9% of its investment portfolio.
• Analysts have a consensus rating of "Moderate Buy" for JPMorgan Chase & Co., with a target price of $288.68 following various ratings from brokerages including HSBC and Bank of America.
• JPMorgan Chase & Co. announced a quarterly dividend of $1.40 per share with a yield of 1.9%, and its earnings report showed a profit of $4.96 per share, exceeding expectations.

HighTower Advisors LLC trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,711,347 shares of the financial services provider's stock after selling 170,104 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.9% of HighTower Advisors LLC's portfolio, making the stock its 10th biggest holding. HighTower Advisors LLC owned 0.10% of JPMorgan Chase & Co. worth $665,093,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Trajan Wealth LLC increased its position in shares of JPMorgan Chase & Co. by 6.5% in the first quarter. Trajan Wealth LLC now owns 52,528 shares of the financial services provider's stock worth $12,885,000 after acquiring an additional 3,209 shares in the last quarter. Core Wealth Partners LLC increased its position in shares of JPMorgan Chase & Co. by 3.2% in the first quarter. Core Wealth Partners LLC now owns 8,627 shares of the financial services provider's stock worth $2,116,000 after acquiring an additional 268 shares in the last quarter. Gouws Capital LLC increased its position in shares of JPMorgan Chase & Co. by 128.9% in the first quarter. Gouws Capital LLC now owns 3,433 shares of the financial services provider's stock worth $842,000 after acquiring an additional 1,933 shares in the last quarter. AIA Group Ltd increased its position in shares of JPMorgan Chase & Co. by 16.2% in the first quarter. AIA Group Ltd now owns 106,963 shares of the financial services provider's stock worth $26,238,000 after acquiring an additional 14,936 shares in the last quarter. Finally, Mainsail Asset Management LLC increased its position in shares of JPMorgan Chase & Co. by 7.5% in the first quarter. Mainsail Asset Management LLC now owns 1,498 shares of the financial services provider's stock worth $367,000 after acquiring an additional 104 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on JPM shares. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Hsbc Global Res downgraded JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Finally, Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a research report on Friday, June 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,557 shares of company stock valued at $4,113,796. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded down $3.68 during mid-day trading on Friday, hitting $290.48. The company's stock had a trading volume of 7,339,238 shares, compared to its average volume of 7,940,475. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $798.75 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. The stock's 50-day moving average is $286.42 and its two-hundred day moving average is $263.59.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the prior year, the business earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

JPMorgan Chase & Co. 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.