JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Navellier & Associates Inc.

Key Points

• Navellier & Associates Inc. reduced its stake in JPMorgan Chase & Co. by 10.5%, selling 1,000 shares during the first quarter, leaving them with 8,540 shares valued at approximately $2.16 million.
• JPMorgan Chase & Co. reported an EPS of $4.96 for the quarter, exceeding analysts' estimates, but experienced a 10.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.40 per share, representing an annualized yield of 1.87%, with a payout ratio of 28.73%.

Navellier & Associates Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,540 shares of the financial services provider's stock after selling 1,000 shares during the period. Navellier & Associates Inc.'s holdings in JPMorgan Chase & Co. were worth $2,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cetera Investment Advisers raised its holdings in JPMorgan Chase & Co. by 7.9% during the first quarter. Cetera Investment Advisers now owns 969,361 shares of the financial services provider's stock valued at $237,784,000 after acquiring an additional 70,729 shares during the period. Avantax Advisory Services Inc. raised its holdings in JPMorgan Chase & Co. by 0.7% during the first quarter. Avantax Advisory Services Inc. now owns 323,350 shares of the financial services provider's stock valued at $79,318,000 after acquiring an additional 2,391 shares during the period. Tempus Wealth Planning LLC raised its holdings in JPMorgan Chase & Co. by 3.1% during the first quarter. Tempus Wealth Planning LLC now owns 11,461 shares of the financial services provider's stock valued at $2,811,000 after acquiring an additional 340 shares during the period. Brookwood Investment Group LLC bought a new stake in JPMorgan Chase & Co. during the first quarter valued at about $1,211,000. Finally, Kelman Lazarov Inc. raised its holdings in JPMorgan Chase & Co. by 5.6% during the first quarter. Kelman Lazarov Inc. now owns 1,075 shares of the financial services provider's stock valued at $264,000 after acquiring an additional 57 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 2.4%

Shares of NYSE JPM traded down $7.03 during trading hours on Friday, reaching $289.21. The stock had a trading volume of 12,005,470 shares, compared to its average volume of 8,727,902. 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 price-to-earnings ratio of 14.84, a P/E/G ratio of 2.00 and a beta of 1.11. The business's fifty day moving average price is $280.47 and its two-hundred day moving average price is $261.28. 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 announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.12 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were issued 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 is currently 28.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on JPM shares. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Bank of America lifted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. 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. TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Finally, UBS Group lifted 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. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the company'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 sale, the director owned 91,539 shares in the company, valued at $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 in the last three months. 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.