Stratos Wealth Partners LTD. Sells 79,866 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Stratos Wealth Partners LTD. reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 28.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,868 shares of the financial services provider's stock after selling 79,866 shares during the quarter. JPMorgan Chase & Co. makes up about 0.7% of Stratos Wealth Partners LTD.'s holdings, making the stock its 22nd largest position. Stratos Wealth Partners LTD.'s holdings in JPMorgan Chase & Co. were worth $49,028,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $471,000. Crown Wealth Group LLC boosted its position in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after acquiring an additional 222 shares during the period. Hidden Cove Wealth Management LLC grew its stake in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 112 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider's stock valued at $4,953,000 after acquiring an additional 1,218 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in JPMorgan Chase & Co. by 11.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider's stock worth $3,838,000 after acquiring an additional 1,561 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated 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 sale, the general counsel directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction dated 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 $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 over the last ninety days. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

JPM has been the subject of several analyst reports. Baird R W downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday, July 7th. Truist Financial upped their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. Finally, KGI Securities started coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating for the company. Three analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $284.42.

JPMorgan Chase & Co. Trading Down 0.8%

Shares of NYSE JPM traded down $2.31 during midday trading on Tuesday, reaching $286.39. The company had a trading volume of 12,510,973 shares, compared to its average volume of 9,540,498. The stock has a market cap of $795.90 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The firm's fifty day moving average price is $271.71 and its 200-day moving average price is $256.81. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the previous year, the company posted $6.12 earnings per share. The business's revenue was down 10.5% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared 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. This represents a $5.60 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 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.