JPMorgan Chase & Co. (NYSE:JPM) Position Trimmed by Pathway Financial Advisers LLC

Key Points

• Pathway Financial Advisers LLC reduced its stake in JPMorgan Chase & Co. by 3.5% in the first quarter, now owning 31,434 shares valued at approximately $7.71 million.
• Multiple analysts have increased their price targets for JPMorgan Chase, with UBS raising it from $277 to $305 and Bank of America from $330 to $340, reflecting a generally positive outlook.
• JPMorgan Chase recently reported an earnings per share of $4.96, exceeding estimates, but revenues fell 10.5% year-over-year, signaling mixed performance amid economic conditions.

Pathway Financial Advisers LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,434 shares of the financial services provider's stock after selling 1,145 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.6% of Pathway Financial Advisers LLC's investment portfolio, making the stock its 2nd largest holding. Pathway Financial Advisers LLC's holdings in JPMorgan Chase & Co. were worth $7,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Florida Financial Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares during the period. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $471,000. Crown Wealth Group LLC raised its position in 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 valued at $1,060,000 after purchasing an additional 222 shares during the last quarter. Morse Asset Management Inc raised its position in JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC raised its position in JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent analyst reports. UBS Group upped their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Bank of America increased their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley increased their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the transaction, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,557 shares of company stock worth $4,113,796. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.6%

JPM traded up $1.61 during trading on Friday, hitting $288.55. 6,633,369 shares of the company's stock traded hands, compared to its average volume of 8,541,502. The company's 50 day simple moving average is $283.74 and its two-hundred day simple moving average is $262.70. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29. The stock has a market capitalization of $793.44 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.91 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS 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 business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the business posted $6.12 EPS. The company's revenue was down 10.5% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

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.