JPMorgan Chase & Co. (NYSE:JPM) Stake Lowered by Nemes Rush Group LLC

Key Points

• Nemes Rush Group LLC reduced its stake in JPMorgan Chase & Co. by 0.9%, now holding 124,973 shares worth approximately $30.66 million, which comprises around 3.9% of their investment portfolio.
• Insider transactions included CFO Jeremy Barnum selling 40,014 shares for over $10 million, reducing his position by 68.95%, while Director Linda Bammann sold 9,500 shares valued at $2.375 million, reflecting a 9.4% decrease in her holdings.
• JPMorgan Chase & Co. reported earnings per share (EPS) of $4.96 for the recent quarter, exceeding analysts' expectations, despite experiencing a year-over-year revenue decline of 10.5%.

Nemes Rush Group LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,973 shares of the financial services provider's stock after selling 1,072 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 3.9% of Nemes Rush Group LLC's holdings, making the stock its 3rd biggest holding. Nemes Rush Group LLC's holdings in JPMorgan Chase & Co. were worth $30,656,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital City Trust Co. FL grew its position in JPMorgan Chase & Co. by 6.6% in the 1st quarter. Capital City Trust Co. FL now owns 17,123 shares of the financial services provider's stock worth $4,200,000 after purchasing an additional 1,061 shares during the last quarter. Valued Retirements Inc. lifted its position in shares of JPMorgan Chase & Co. by 6.6% in the 1st quarter. Valued Retirements Inc. now owns 1,376 shares of the financial services provider's stock valued at $338,000 after acquiring an additional 85 shares in the last quarter. Waddell & Associates LLC lifted its position in shares of JPMorgan Chase & Co. by 5.5% in the 1st quarter. Waddell & Associates LLC now owns 11,877 shares of the financial services provider's stock valued at $2,913,000 after acquiring an additional 617 shares in the last quarter. Texas Yale Capital Corp. increased its stake in JPMorgan Chase & Co. by 0.5% in the 1st quarter. Texas Yale Capital Corp. now owns 110,123 shares of the financial services provider's stock valued at $27,013,000 after buying an additional 565 shares during the period. Finally, Resolute Wealth Strategies LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.7% during the 1st quarter. Resolute Wealth Strategies LLC now owns 13,458 shares of the financial services provider's stock valued at $3,301,000 after purchasing an additional 476 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 2.4%

NYSE JPM traded down $7.03 during mid-day trading on Friday, hitting $289.21. The company's stock had a trading volume of 12,005,470 shares, compared to its average volume of 9,328,257. The company's 50 day simple moving average is $281.04 and its 200 day simple moving average is $261.64. 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. The firm has a market capitalization of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.94 and a beta of 1.11.

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, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for 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 for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $6.12 EPS. 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 disclosed 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 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on JPM shares. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. HSBC reiterated a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Three research 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. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This represents a 9.40% 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 three months. Company 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.