JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Longbow Finance SA

Key Points

• Longbow Finance SA reduced its stake in JPMorgan Chase & Co. by 17.7%, now holding 86,408 shares valued at approximately $21.2 million.
• Insider selling has been notable, with CFO Jeremy Barnum selling over 40,000 shares, reflecting a significant decrease of 68.95% in his ownership.
• Despite a revenue decrease of 10.5% year-over-year, JPMorgan Chase reported earnings per share of $4.96, surpassing analyst estimates and maintaining a market capitalization of $823.69 billion.

Longbow Finance SA lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,408 shares of the financial services provider's stock after selling 18,556 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.5% of Longbow Finance SA's holdings, making the stock its 11th biggest position. Longbow Finance SA's holdings in JPMorgan Chase & Co. were worth $21,196,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of JPM. Hurlow Wealth Management Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 0.7% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock valued at $1,328,000 after purchasing an additional 40 shares in the last quarter. Wimmer Associates 1 LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 4th 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 during the period. Twin Lakes Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after purchasing an additional 40 shares during the period. First Command Advisory Services Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after purchasing an additional 40 shares during the period. Finally, Black Swift Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of JPMorgan Chase & Co. stock traded down $7.03 on Friday, hitting $289.21. 12,005,470 shares of the company's stock traded hands, compared to its average volume of 8,727,902. The stock has a market cap of $803.74 billion, a P/E ratio of 14.84, a PEG ratio of 1.95 and a beta of 1.11. 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 firm's 50-day moving average is $281.04 and its 200 day moving average is $261.57. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week 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, beating the consensus estimate of $4.48 by $0.48. The company 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 business's revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $6.12 EPS. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Finally, TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the 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 transaction, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company's stock.

About JPMorgan Chase & Co.

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.