JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Quadrant Private Wealth Management LLC

Key Points

• Quadrant Private Wealth Management LLC reduced its stake in JPMorgan Chase & Co. by 17.2% in the first quarter, selling 2,808 shares and holding a total of 13,510 shares valued at approximately $3.3 million.
• Insiders at JPMorgan have been active, with COO Jennifer Piepszak and CFO Jeremy Barnum selling significant portions of their holdings, indicating a decrease of 8.20% and 68.95%, respectively.
• JPMorgan Chase & Co. reported better-than-expected quarterly earnings, with an EPS of $4.96, surpassing analysts’ estimates by $0.48, despite a 10.5% year-over-year revenue decline.

Quadrant Private Wealth Management LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,510 shares of the financial services provider's stock after selling 2,808 shares during the period. Quadrant Private Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $3,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $8,310,884,000. Northern Trust Corp lifted its holdings in shares of JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after buying an additional 454,226 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares in the company, valued at $17,197,873.08. The trade was a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the business's 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 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. In the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Finally, Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $298.22 on Tuesday. The firm has a 50-day simple moving average of $278.35 and a 200-day simple moving average of $260.40. 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 stock has a market capitalization of $828.78 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 2.01 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $299.59.

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

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.88%. JPMorgan Chase & Co.'s dividend payout ratio 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.

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