Valley Wealth Managers Inc. Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Valley Wealth Managers Inc. reduced its stock holdings in JPMorgan Chase & Co. by 3.8% in the first quarter, owning 22,028 shares valued at approximately $5.4 million.
• Multiple institutional investors, including Brighton Jones LLC and Highview Capital Management LLC, have increased their positions in JPMorgan Chase, with the majority owning 71.55% of the company's stock.
• Analyst ratings for JPMorgan Chase are mixed, with several firms maintaining a "buy" rating, while others have issued "sell" or "reduce" ratings, leading to an average rating of "Moderate Buy" and price target of $288.68.

Valley Wealth Managers Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,028 shares of the financial services provider's stock after selling 874 shares during the period. Valley Wealth Managers Inc.'s holdings in JPMorgan Chase & Co. were worth $5,404,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in JPM. Brighton Jones LLC raised its holdings in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of JPMorgan Chase & Co. by 0.6% in 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 in the last quarter. Highview Capital Management LLC DE raised its holdings in shares of JPMorgan Chase & Co. by 16.1% in the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after acquiring an additional 1,893 shares in the last quarter. KKM Financial LLC raised its holdings in shares of JPMorgan Chase & Co. by 3.9% in the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after acquiring an additional 640 shares in the last quarter. Finally, Physician Wealth Advisors Inc. raised its holdings in shares of JPMorgan Chase & Co. by 4.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 1,611 shares of the financial services provider's stock valued at $386,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

JPM has been the topic of several recent analyst reports. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective on the stock. HSBC reiterated a "reduce" rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Finally, Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of NYSE:JPM opened at $289.21 on Friday. The stock has a fifty day simple moving average of $281.04 and a two-hundred day simple moving average of $261.57. The stock has a market capitalization of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 2.00 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

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 (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during 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%. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.12 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were issued a $1.40 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 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.

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