Sunbelt Securities Inc. Sells 3,783 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sunbelt Securities Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,566 shares of the financial services provider's stock after selling 3,783 shares during the quarter. Sunbelt Securities Inc.'s holdings in JPMorgan Chase & Co. were worth $6,271,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $66,088,000. SOA Wealth Advisors LLC. lifted its stake in JPMorgan Chase & Co. by 1.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock valued at $5,115,000 after acquiring an additional 255 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after acquiring an additional 1,229 shares during the last quarter. Finally, Highview Capital Management LLC DE grew its stake in shares of JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after acquiring an additional 1,893 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JPM. Morgan Stanley increased their price objective on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an "equal weight" rating in a research report on Monday, June 23rd. Evercore ISI increased their price target on JPMorgan Chase & Co. from $280.00 to $298.00 and gave the company an "outperform" rating in a report on Wednesday. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. Bank of America lifted their price objective on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Finally, KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $277.74.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value 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 represents a 9.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the sale, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. This represents a 8.20% 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 in the last quarter. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded up $4.13 during trading hours on Friday, reaching $296.13. 6,541,646 shares of the company traded hands, compared to its average volume of 9,527,821. The firm has a 50-day moving average price of $265.91 and a 200 day moving average price of $254.16. The company has a market cap of $822.96 billion, a P/E ratio of 14.54, a P/E/G ratio of 2.72 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm's revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.44 EPS. As a group, 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. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.89%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

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.