Signet Investment Advisory Group Inc. Sells 2,053 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Signet Investment Advisory Group Inc. reduced its stake in JPMorgan Chase & Co. by 8.1%, owning 23,428 shares after selling 2,053 shares, which now represent 2.9% of its portfolio.
• Insider sales include CFO Jeremy Barnum selling 40,014 shares valued at over $10 million and Director Linda Bammann selling 9,500 shares for $2.375 million, resulting in a significant decrease in their ownership percentages.
• JPMorgan Chase & Co. reported a quarterly EPS of $4.96, exceeding expectations, but with a revenue decrease of 10.5% compared to the prior year.

Signet Investment Advisory Group Inc. lessened its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,428 shares of the financial services provider's stock after selling 2,053 shares during the period. JPMorgan Chase & Co. makes up 2.9% of Signet Investment Advisory Group Inc.'s investment portfolio, making the stock its 9th largest holding. Signet Investment Advisory Group Inc.'s holdings in JPMorgan Chase & Co. were worth $5,747,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in JPM. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.3%

Shares of JPMorgan Chase & Co. stock traded down $0.75 during mid-day trading on Tuesday, hitting $297.53. 2,357,746 shares of the stock were exchanged, compared to its average volume of 10,061,427. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $301.29. The stock has a market capitalization of $826.87 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. The company has a 50-day simple moving average of $278.35 and a 200 day simple moving average of $260.40. 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. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the company earned $6.12 EPS. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.88%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 over the last three months. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on JPM. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a report on Friday, June 27th. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. HSBC restated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $288.68.

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.