Townsend & Associates Inc Has $2.31 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Townsend & Associates Inc lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 34.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,089 shares of the financial services provider's stock after selling 5,209 shares during the quarter. Townsend & Associates Inc's holdings in JPMorgan Chase & Co. were worth $2,310,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC lifted its stake in 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 worth $11,682,000 after purchasing an additional 4,841 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in JPMorgan Chase & Co. by 1.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock worth $5,115,000 after purchasing an additional 255 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE lifted its stake in JPMorgan Chase & Co. by 16.1% during 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 purchasing an additional 1,893 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. lifted its stake in JPMorgan Chase & Co. by 3.6% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 24,793 shares of the financial services provider's stock worth $5,943,000 after purchasing an additional 851 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was 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 business's 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 transaction, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. 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. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Monday. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday. UBS Group lifted their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Finally, TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $276.80.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded down $9.11 during mid-day trading on Tuesday, hitting $282.86. 15,432,541 shares of the stock traded hands, compared to its average volume of 9,557,822. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. The firm has a market cap of $786.09 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10. The company's 50-day simple moving average is $267.94 and its 200-day simple moving average is $255.26. 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. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same period last year, the firm earned $4.44 EPS. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend yield of 1.98%. The ex-dividend date is Thursday, July 3rd. 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.