Souders Financial Advisors Sells 7,034 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Souders Financial Advisors has reduced its stake in JPMorgan Chase & Co. by 23.7%, owning 22,694 shares after selling 7,034 shares, now making it only 0.8% of their investment portfolio.
• The company's quarterly earnings reported $4.96 EPS, exceeding estimates by $0.48, although revenues decreased by 10.5% compared to the previous year.
• JPMorgan Chase & Co. announced a $1.40 per share quarterly dividend, contributing to an annualized yield of 1.88% with a payout ratio of 28.73%.

Souders Financial Advisors cut its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 23.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,694 shares of the financial services provider's stock after selling 7,034 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.8% of Souders Financial Advisors' portfolio, making the stock its 29th largest holding. Souders Financial Advisors' holdings in JPMorgan Chase & Co. were worth $5,567,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after acquiring an additional 876,417 shares in the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $8,310,884,000. Northern Trust Corp grew its position in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after buying an additional 4,515,147 shares during the period. Bank of New York Mellon Corp grew its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after buying an additional 454,226 shares during the period. Finally, GAMMA Investing LLC increased its holdings in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other 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 transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,200 shares of company stock worth $18,060,015. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America upped their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Finally, Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Up 0.9%

JPMorgan Chase & Co. stock traded up $2.59 during midday trading on Wednesday, hitting $299.63. 8,046,594 shares of the stock were exchanged, compared to its average volume of 8,322,348. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $301.29. The company has a 50 day moving average price of $279.75 and a two-hundred day moving average price of $260.92. The firm has a market cap of $832.70 billion, a P/E ratio of 15.37, a P/E/G ratio of 2.00 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.12 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.87%. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

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.