WESPAC Advisors SoCal LLC Sells 1,705 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• WESPAC Advisors SoCal LLC has reduced its stake in JPMorgan Chase & Co. by 4.1%, owning 39,561 shares worth approximately $9.7 million, making it their 14th biggest holding.
• JPMorgan's CFO sold 40,014 shares at an average price of $250.77 in May, while the COO sold 6,128 shares at $262.47 in June, indicating significant insider activity.
• JPMorgan Chase reported a quarterly earnings per share (EPS) of $4.96, surpassing analysts' expectations and resulting in a 20.52% net margin, despite a year-over-year revenue decline of 10.5%.

WESPAC Advisors SoCal LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 39,561 shares of the financial services provider's stock after selling 1,705 shares during the period. JPMorgan Chase & Co. comprises 2.5% of WESPAC Advisors SoCal LLC's holdings, making the stock its 14th largest position. WESPAC Advisors SoCal LLC's holdings in JPMorgan Chase & Co. were worth $9,704,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. GAMMA Investing LLC increased its position in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after buying an additional 23,465,278 shares during the period. Northern Trust Corp lifted its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after acquiring an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares during the period. Institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the transaction, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, KGI Securities began coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating for the company. Three 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. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Trading Down 2.4%

JPM stock traded down $7.03 during midday trading on Friday, hitting $289.21. The stock had a trading volume of 12,005,470 shares, compared to its average volume of 10,131,769. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The firm has a market cap of $803.74 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The business has a fifty day moving average price of $280.47 and a two-hundred day moving average price of $261.28. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $6.12 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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