JPMorgan Chase & Co. (NYSE:JPM) Holdings Cut by W.G. Shaheen & Associates DBA Whitney & Co

Key Points

• W.G. Shaheen & Associates DBA Whitney & Co reduced its stake in JPMorgan Chase & Co. by 8.8%, holding 93,700 shares worth approximately $22.98 million after selling 9,015 shares in the first quarter.
• Analysts have raised price targets for JPMorgan Chase & Co., with UBS Group increasing its target from $277 to $305, and Bank of America raising theirs from $330 to $340, indicating positive market sentiment.
• JPMorgan Chase & Co. reported earnings of $4.96 per share for the last quarter, exceeding estimates by $0.48, despite a 10.5% year-over-year revenue decline to $44.91 billion.

W.G. Shaheen & Associates DBA Whitney & Co lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,700 shares of the financial services provider's stock after selling 9,015 shares during the period. JPMorgan Chase & Co. makes up approximately 2.4% of W.G. Shaheen & Associates DBA Whitney & Co's portfolio, making the stock its 8th largest position. W.G. Shaheen & Associates DBA Whitney & Co's holdings in JPMorgan Chase & Co. were worth $22,985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Florida Financial Advisors LLC lifted its position in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $471,000. Crown Wealth Group LLC lifted its position in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after acquiring an additional 222 shares during the last quarter. Morse Asset Management Inc lifted its position in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded down $7.03 during trading hours on Friday, hitting $289.21. The company's stock had a trading volume of 12,005,470 shares, compared to its average volume of 10,131,769. The business has a fifty day moving average of $280.47 and a 200-day moving average of $261.28. The stock has a market cap of $803.74 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 2.02 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released 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 net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the prior year, the business earned $6.12 earnings per share. The company's quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts anticipate 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 given a dividend of $1.40 per share. 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 28.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. 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. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a report on Friday, June 27th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insider Activity

In other news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 in the last three months. 0.47% of the stock is owned by insiders.

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.