Abacus Planning Group Inc. Sells 608 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Abacus Planning Group Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,304 shares of the financial services provider’s stock after selling 608 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.8% of Abacus Planning Group Inc.’s holdings, making the stock its 20th biggest holding. Abacus Planning Group Inc.’s holdings in JPMorgan Chase & Co. were worth $4,067,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of JPM. Stone House Investment Management LLC lifted its holdings in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 89 shares during the last quarter. Bare Financial Services Inc bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $35,000. Partnership Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $36,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $40,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $40,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on JPM. Oppenheimer cut their price target on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Robert W. Baird lifted their target price on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a report on Tuesday, May 21st. Finally, UBS Group upped their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus target price of $194.10.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the sale, the insider now owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the sale, the insider now directly owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The disclosure for this sale can be found here. Insiders sold a total of 250,565 shares of company stock valued at $46,962,717 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.3 %

Shares of JPM traded up $2.62 on Monday, reaching $198.92. The stock had a trading volume of 2,140,724 shares, compared to its average volume of 9,189,050. The firm has a market capitalization of $571.23 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 2.67 and a beta of 1.12. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50-day simple moving average of $195.20 and a 200-day simple moving average of $184.87. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.41 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.