Inlet Private Wealth LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Inlet Private Wealth LLC has reduced its holdings in JPMorgan Chase & Co. by 3.3%, leaving it as the firm's 5th biggest position with a total valuation of $12.4 million as of the latest SEC filing.
• A significant number of insiders, including General Counsel and CFO, have sold shares recently, with total insider sales amounting to $18 million over the last three months.
• Analysts hold a mixed outlook on JPMorgan Chase & Co., with ratings ranging from strong sell to moderate buy, and an average price target set at $288.68.

Inlet Private Wealth LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,624 shares of the financial services provider's stock after selling 1,725 shares during the quarter. JPMorgan Chase & Co. comprises about 3.2% of Inlet Private Wealth LLC's investment portfolio, making the stock its 5th biggest position. Inlet Private Wealth LLC's holdings in JPMorgan Chase & Co. were worth $12,418,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of JPM. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $33,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $37,000. Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $44,000. Finally, Glass Jacobson Investment Advisors llc lifted its stake in shares of JPMorgan Chase & Co. by 41.4% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 222 shares of the financial services provider's stock worth $53,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating on the stock. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. 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, Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of JPMorgan Chase & Co. stock traded down $7.03 during trading hours on Friday, hitting $289.21. 12,005,470 shares of the company's stock traded hands, compared to its average volume of 9,328,257. The company has a market cap of $803.74 billion, a PE ratio of 14.84, a PEG ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $301.29. The stock has a 50 day simple moving average of $281.04 and a 200-day simple moving average of $261.64. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25.

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 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during 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 revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $6.12 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share 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 paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares of the company's stock, valued at $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

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.