Burney Co. Has $28.28 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Burney Co. increased its stake in JPMorgan Chase & Co. by 4.3%, now holding 115,285 shares worth approximately $28.28 million.
• JPMorgan's recent earnings report showed an earnings per share (EPS) of $4.96, surpassing estimates by $0.48, despite a year-over-year revenue decline of 10.5%.
• The company has announced a quarterly dividend of $1.40 per share, yielding 1.89%, with a payout ratio of 28.73%.

Burney Co. raised its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 115,285 shares of the financial services provider's stock after purchasing an additional 4,786 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of Burney Co.'s holdings, making the stock its 19th biggest holding. Burney Co.'s holdings in JPMorgan Chase & Co. were worth $28,279,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wakefield Asset Management LLLP lifted its position in JPMorgan Chase & Co. by 27.3% in the first quarter. Wakefield Asset Management LLLP now owns 21,450 shares of the financial services provider's stock worth $5,262,000 after purchasing an additional 4,596 shares during the period. Wedbush Securities Inc. lifted its stake in JPMorgan Chase & Co. by 5.0% during the first quarter. Wedbush Securities Inc. now owns 89,007 shares of the financial services provider's stock valued at $21,833,000 after purchasing an additional 4,244 shares during the last quarter. Summit Wealth Partners LLC lifted its stake in JPMorgan Chase & Co. by 1.1% during the first quarter. Summit Wealth Partners LLC now owns 4,664 shares of the financial services provider's stock valued at $1,144,000 after purchasing an additional 53 shares during the last quarter. Triumph Capital Management lifted its stake in JPMorgan Chase & Co. by 2.4% during the first quarter. Triumph Capital Management now owns 1,793 shares of the financial services provider's stock valued at $440,000 after purchasing an additional 42 shares during the last quarter. Finally, City National Bank of Florida MSD lifted its stake in JPMorgan Chase & Co. by 37.5% during the first quarter. City National Bank of Florida MSD now owns 3,157 shares of the financial services provider's stock valued at $774,000 after purchasing an additional 861 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, the chief financial officer directly owned 18,017 shares of the company's stock, 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 quarter. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on JPM shares. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. 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 research report on Friday, June 27th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Phillip Securities downgraded shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. 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. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded down $7.03 during mid-day trading on Friday, reaching $289.21. The company had a trading volume of 12,005,470 shares, compared to its average volume of 10,131,769. The firm has a market cap of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.02 and a beta of 1.10. 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. has a 52 week low of $190.90 and a 52 week high of $301.29. The company has a 50 day moving average of $280.47 and a 200-day moving average of $261.28.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm'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 EPS. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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