Obermeyer Wealth Partners Sells 1,387 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Obermeyer Wealth Partners reduced its stake in JPMorgan Chase & Co. by 4.0%, selling 1,387 shares and holding 33,235 shares valued at approximately $8.15 million at the end of the 1st quarter.
• Multiple institutional investors have increased their positions in JPMorgan Chase, including GAMMA Investing LLC, which raised its stake by over 25,861% to 23.5 million shares worth nearly $5.78 billion.
• The latest quarterly earnings report showed JPMorgan Chase posting earnings of $4.96 per share, exceeding analysts' expectations, although its revenue declined by 10.5% compared to the previous year.

Obermeyer Wealth Partners cut its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,235 shares of the financial services provider's stock after selling 1,387 shares during the quarter. Obermeyer Wealth Partners' holdings in JPMorgan Chase & Co. were worth $8,153,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter worth approximately $33,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $43,000. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM traded down $3.55 during trading on Thursday, reaching $296.08. 2,076,304 shares of the stock traded hands, compared to its average volume of 10,027,213. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $301.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The company has a 50-day moving average of $279.75 and a 200-day moving average of $260.92. The stock has a market capitalization of $822.83 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business 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 firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.12 EPS. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 approximately $22,884,750. This trade represents a 9.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were 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 trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. 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.