JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Wedbush Securities Inc.

Key Points

• Wedbush Securities Inc. increased its holdings in JPMorgan Chase & Co. by 5.0% during the first quarter, now owning 89,007 shares valued at approximately $21.83 million.
• Analysts have issued a consensus rating of "Moderate Buy" for JPMorgan Chase & Co., with a target price averaging $288.68.
• Recently, several insiders sold shares, including CFO Jeremy Barnum, who sold 40,014 shares worth over $10 million, resulting in a significant decrease in their ownership.

Wedbush Securities Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,007 shares of the financial services provider's stock after buying an additional 4,244 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Wedbush Securities Inc.'s portfolio, making the stock its 14th largest holding. Wedbush Securities Inc.'s holdings in JPMorgan Chase & Co. were worth $21,833,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after purchasing an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE grew its position in shares of JPMorgan Chase & Co. by 16.1% in the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after buying an additional 1,893 shares during the period. KKM Financial LLC lifted its position in JPMorgan Chase & Co. by 3.9% during the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after acquiring an additional 640 shares during the period. Finally, Core Wealth Partners LLC grew its holdings in JPMorgan Chase & Co. by 6.9% in the fourth quarter. Core Wealth Partners LLC now owns 8,359 shares of the financial services provider's stock worth $2,004,000 after purchasing an additional 540 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction on 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 sale, the chief operating officer directly owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction 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 completion of the sale, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last quarter. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of JPM stock traded down $7.03 during trading hours on Friday, reaching $289.21. 12,005,470 shares of the company's stock were exchanged, compared to its average volume of 10,131,769. The stock's 50 day moving average is $280.47 and its 200-day moving average is $261.28. The company has a market cap of $803.74 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 2.02 and a beta of 1.10. 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 fifty-two week low of $190.90 and a fifty-two week high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for 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 business's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $6.12 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were given a $1.40 dividend. This represents a $5.60 annualized dividend 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 is presently 28.73%.

Analysts Set New Price Targets

JPM has been the topic of a number of 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. Bank of America lifted their price target 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. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. UBS Group increased their price objective 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. Finally, TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. 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 assigned a strong buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

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.