JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC reduced its stake in JPMorgan Chase & Co. by 1.3% in Q1, holding 104,605 shares valued at approximately $25.66 million.
• Analysts have mixed ratings on JPMorgan Chase & Co., with a current consensus of Moderate Buy and a target price of $288.68, while some firms have downgraded their ratings.
• JPMorgan reported a Q2 earnings per share of $4.96, surpassing estimates of $4.48, despite a decline in revenue compared to the previous year.

Cary Street Partners Financial LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,605 shares of the financial services provider's stock after selling 1,373 shares during the quarter. JPMorgan Chase & Co. comprises 0.8% of Cary Street Partners Financial LLC's investment portfolio, making the stock its 24th biggest holding. Cary Street Partners Financial LLC's holdings in JPMorgan Chase & Co. were worth $25,660,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $28,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Measured Risk Portfolios Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Finally, Glass Jacobson Investment Advisors llc lifted its holdings in shares of JPMorgan Chase & Co. by 41.4% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 222 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 65 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on JPM shares. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Finally, Morgan Stanley raised their price target 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,557 shares of company stock worth $4,113,796 in the last quarter. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $288.55 on Friday. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. The company has a market cap of $793.44 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.93 and a beta of 1.11. 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 business has a fifty day simple moving average of $283.74 and a 200-day simple moving average of $262.70.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter last year, the firm earned $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. 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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.