Ignite Planners LLC Acquires 862 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Ignite Planners LLC increased its holdings in JPMorgan Chase by 8.6% during the first quarter, owning 10,856 shares valued at approximately $2.68 million.
• JPMorgan reported an earnings per share (EPS) of $4.96, surpassing estimates, but its revenue decreased by 10.5% compared to the prior year.
• The company's latest quarterly dividend is $1.40 per share, representing an annualized yield of 1.88% with a payout ratio of 28.73%.

Ignite Planners LLC grew its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,856 shares of the financial services provider's stock after buying an additional 862 shares during the quarter. Ignite Planners LLC's holdings in JPMorgan Chase & Co. were worth $2,680,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in JPM. Van Strum & Towne Inc. increased its holdings in shares of JPMorgan Chase & Co. by 4.3% in the first quarter. Van Strum & Towne Inc. now owns 39,773 shares of the financial services provider's stock valued at $9,756,000 after purchasing an additional 1,644 shares during the period. Vista Capital Partners Inc. increased its stake in JPMorgan Chase & Co. by 6.4% in the first quarter. Vista Capital Partners Inc. now owns 3,625 shares of the financial services provider's stock valued at $889,000 after purchasing an additional 219 shares during the last quarter. Gries Financial LLC increased its stake in JPMorgan Chase & Co. by 11.9% in the first quarter. Gries Financial LLC now owns 7,871 shares of the financial services provider's stock valued at $1,931,000 after purchasing an additional 837 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Crestwood Advisors Group LLC now owns 251,690 shares of the financial services provider's stock valued at $61,739,000 after buying an additional 4,624 shares in the last quarter. Finally, Kingsman Wealth Management Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $1,274,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director owned 91,539 shares in the company, valued at $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.1%

JPM stock traded down $3.42 during mid-day trading on Thursday, reaching $296.22. 2,076,304 shares of the company traded hands, compared to its average volume of 10,027,213. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $301.29. The firm's 50 day moving average price is $279.75 and its 200 day moving average price is $260.92. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market cap of $823.21 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 2.00 and a beta of 1.10.

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 EPS for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $6.12 EPS. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Robert W. Baird cut 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. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.