Peak Asset Management LLC Sells 4,065 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Peak Asset Management LLC reduced its stake in JPMorgan Chase by 4.8%, selling 4,065 shares and now holding 81,279 shares, valued at approximately $19.9 million.
• A number of research analysts have provided favorable ratings for JPMorgan Chase, with Wells Fargo increasing its price target from $320 to $325 and maintaining an "overweight" rating.
• The company recently announced a quarterly dividend of $1.40 per share, translating to an annualized dividend yield of 1.9% and a dividend payout ratio of 28.73%.

Peak Asset Management LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,279 shares of the financial services provider's stock after selling 4,065 shares during the quarter. JPMorgan Chase & Co. makes up approximately 3.8% of Peak Asset Management LLC's holdings, making the stock its 3rd biggest holding. Peak Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $19,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Florida Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after acquiring an additional 3,792 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $471,000. Crown Wealth Group LLC boosted its stake in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares during the period. Morse Asset Management Inc boosted its stake in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after buying an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 4.2% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on JPM shares. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating on the stock. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Finally, HSBC reaffirmed a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Trading Down 2.4%

JPM opened at $289.21 on Friday. The firm's fifty day moving average is $281.04 and its two-hundred day moving average is $261.57. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market cap 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 twelve month low of $190.90 and a twelve month high of $301.29.

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 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 analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business posted $6.12 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, 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 completion of the sale, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the sale, the general counsel owned 68,757 shares in the company, valued at $18,269,422.47. This represents a 3.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company 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.

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