Trust Asset Management LLC Sells 906 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Trust Asset Management LLC has reduced its stake in JPMorgan Chase & Co. by 2.7%, now holding 32,424 shares worth approximately $7.95 million.
• Among other institutional investors, AIA Group Ltd notably increased its holdings in JPMorgan Chase by 16.2% during the same period.
• JPMorgan Chase's most recent earnings report showed $4.96 earnings per share, surpassing estimates and indicating a 10.5% year-over-year decline in revenue.

Trust Asset Management LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,424 shares of the financial services provider's stock after selling 906 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.7% of Trust Asset Management LLC's portfolio, making the stock its 17th biggest holding. Trust Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $7,954,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wimmer Associates 1 LLC grew its stake in shares of JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after buying an additional 40 shares in the last quarter. Twin Lakes Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after purchasing an additional 40 shares in the last quarter. First Command Advisory Services Inc. grew its stake in JPMorgan Chase & Co. by 0.4% during the 1st quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock valued at $2,283,000 after purchasing an additional 40 shares in the last quarter. Black Swift Group LLC grew its stake in JPMorgan Chase & Co. by 0.7% during the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after purchasing an additional 40 shares in the last quarter. Finally, Beacon Bridge Wealth Partners LLC grew its stake in JPMorgan Chase & Co. by 1.8% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded down $3.68 during midday trading on Friday, reaching $290.48. The stock had a trading volume of 7,339,238 shares, compared to its average volume of 7,940,475. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $798.75 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.93 and a beta of 1.11. The firm's 50 day moving average price is $286.42 and its 200-day moving average price is $263.59. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock worth $4,113,796 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JPM. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. HSBC reiterated a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $288.68.

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.