Pekin Hardy Strauss Inc. Sells 2,842 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Pekin Hardy Strauss Inc. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 19.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,750 shares of the financial services provider's stock after selling 2,842 shares during the period. Pekin Hardy Strauss Inc.'s holdings in JPMorgan Chase & Co. were worth $2,882,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Family Capital Management Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter worth $303,000. Planning Directions Inc. bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $383,000. Capital Management Associates Inc increased its position in shares of JPMorgan Chase & Co. by 10.6% in the first quarter. Capital Management Associates Inc now owns 3,946 shares of the financial services provider's stock worth $968,000 after purchasing an additional 379 shares during the period. Interchange Capital Partners LLC increased its position in shares of JPMorgan Chase & Co. by 22.6% in the first quarter. Interchange Capital Partners LLC now owns 13,949 shares of the financial services provider's stock worth $3,422,000 after purchasing an additional 2,570 shares during the period. Finally, Abound Financial LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth $108,000. Institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

JPM has been the topic of a number of recent analyst reports. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Finally, Bank of America raised their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $284.42.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. 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 directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the business's 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 sale, the director 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. In the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPM stock opened at $286.78 on Monday. The company has a market cap of $796.99 billion, a P/E ratio of 14.08, a PEG ratio of 2.62 and a beta of 1.10. The stock has a 50 day simple moving average of $270.98 and a two-hundred day simple moving average of $256.48. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.44 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

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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