Invera Wealth Advisors LLC Has $4.50 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Invera Wealth Advisors LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 24.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,338 shares of the financial services provider's stock after selling 6,047 shares during the quarter. JPMorgan Chase & Co. comprises about 5.3% of Invera Wealth Advisors LLC's investment portfolio, making the stock its 5th largest holding. Invera Wealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $4,496,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at about $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. Bank of America boosted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. HSBC restated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Finally, Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Three research 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 data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Up 0.5%

Shares of NYSE:JPM traded up $1.57 during trading on Thursday, reaching $298.33. 3,258,402 shares of the stock were exchanged, compared to its average volume of 10,150,653. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $299.59. The stock has a fifty day moving average of $276.47 and a two-hundred day moving average of $258.99. The firm has a market cap of $829.09 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 1.99 and a beta of 1.10.

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, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $6.12 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

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.