Boyar Asset Management Inc. Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Boyar Asset Management Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,968 shares of the financial services provider's stock after selling 3,665 shares during the period. JPMorgan Chase & Co. accounts for approximately 9.1% of Boyar Asset Management Inc.'s holdings, making the stock its 2nd largest holding. Boyar Asset Management Inc.'s holdings in JPMorgan Chase & Co. were worth $12,502,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock worth $622,000 after buying an additional 38 shares in the last quarter. Hurlow Wealth Management Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after purchasing an additional 40 shares in the last quarter. Wimmer Associates 1 LLC lifted its position in shares of JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after purchasing an additional 40 shares during the last quarter. Finally, Rockbridge Investment Management LCC increased its holdings in shares of JPMorgan Chase & Co. by 2.3% in the fourth quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock valued at $441,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

JPM has been the topic of several research reports. Citigroup reaffirmed a "neutral" rating and set a $275.00 price objective (up previously from $250.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, June 25th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday. Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Finally, Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday, June 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $273.15.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of the firm's 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 sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 in the last quarter. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.2%

Shares of NYSE JPM traded up $0.52 during midday trading on Tuesday, reaching $290.43. 9,329,188 shares of the stock were exchanged, compared to its average volume of 10,307,592. The business has a 50-day simple moving average of $262.77 and a two-hundred day simple moving average of $253.25. The company has a market capitalization of $807.13 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 2.67 and a beta of 1.08. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $292.65. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period in the previous year, the company posted $4.44 earnings per share. The company's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given 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 1.93%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

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.