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JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Patten & Patten Inc. TN

JPMorgan Chase & Co. logo with Finance background

Key Points

  • Patten & Patten Inc. TN reduced its holdings in JPMorgan Chase & Co. by 2.1%, now owning 130,423 shares worth approximately $31.99 million, making it the firm's 10th largest position.
  • Insiders at JPMorgan Chase & Co. have sold a total of 71,200 shares worth $18.06 million in the last 90 days, with key executives significantly decreasing their personal stock holdings.
  • Quarterly earnings for JPMorgan Chase & Co. exceeded estimates, reporting $4.96 EPS compared to the forecast of $4.48, alongside a revenue of $44.91 billion, down 10.5% from the previous year.
  • Five stocks to consider instead of JPMorgan Chase & Co..

Patten & Patten Inc. TN trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,423 shares of the financial services provider's stock after selling 2,847 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.1% of Patten & Patten Inc. TN's investment portfolio, making the stock its 10th largest position. Patten & Patten Inc. TN's holdings in JPMorgan Chase & Co. were worth $31,993,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in JPM. Financial Management Network Inc. increased its position in shares of JPMorgan Chase & Co. by 5.1% during the first quarter. Financial Management Network Inc. now owns 7,589 shares of the financial services provider's stock worth $1,862,000 after purchasing an additional 367 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $28,000. Kinsale Capital Group Inc. increased its position in shares of JPMorgan Chase & Co. by 6.9% during the first quarter. Kinsale Capital Group Inc. now owns 46,761 shares of the financial services provider's stock worth $11,471,000 after purchasing an additional 3,029 shares in the last quarter. New Republic Capital LLC increased its position in shares of JPMorgan Chase & Co. by 35.5% during the first quarter. New Republic Capital LLC now owns 26,745 shares of the financial services provider's stock worth $6,560,000 after purchasing an additional 7,010 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. increased its position in shares of JPMorgan Chase & Co. by 10.9% during the first quarter. Pin Oak Investment Advisors Inc. now owns 3,066 shares of the financial services provider's stock worth $781,000 after purchasing an additional 302 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer directly 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 sold a total of 71,200 shares of company stock worth $18,060,015 in the last 90 days. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $289.21 on Monday. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $301.29. The business's fifty day simple moving average is $281.04 and its 200-day simple moving average is $261.69. The firm has a market cap of $803.74 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.94 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.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate 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 business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 EPS. The company's quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current 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 paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Analysts Set New Price Targets

Several analysts recently commented on the company. 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 research report on Wednesday, July 16th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating for the company. Finally, Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average target price of $288.68.

Check Out Our Latest Analysis on JPM

JPMorgan Chase & Co. Profile

(Free Report)

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.

Featured Articles

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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.

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