Kovack Advisors Inc. Has $7.48 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Kovack Advisors Inc. sold 1,440 shares of JPMorgan Chase & Co., reducing its position by 4.5% to a total of 30,504 shares valued at approximately $7.48 million.
• Several institutional investors, including Geode Capital Management and Norges Bank, recently increased their stakes in JPMorgan Chase, showcasing institutional interest in the stock.
• JPMorgan Chase's latest earnings report revealed an EPS of $4.96, surpassing expectations, despite a 10.5% decline in revenue compared to the previous year.

Kovack Advisors Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,504 shares of the financial services provider's stock after selling 1,440 shares during the period. JPMorgan Chase & Co. comprises 0.8% of Kovack Advisors Inc.'s portfolio, making the stock its 21st largest holding. Kovack Advisors Inc.'s holdings in JPMorgan Chase & Co. were worth $7,483,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in JPM. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $33,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $37,000. Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $43,000. Finally, Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on JPM. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, TD Cowen assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM traded down $7.03 during midday trading on Friday, hitting $289.21. 12,005,470 shares of the company's stock were exchanged, compared to its average volume of 8,727,902. The company's 50 day moving average price is $280.47 and its 200 day moving average price is $261.28. The firm has a market capitalization of $803.74 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $301.29. 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 released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $6.12 EPS. As a group, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the company's 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 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 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 over the last 90 days. Corporate insiders own 0.47% of the company's stock.

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.