CIC Wealth LLC Sells 217 Shares of JPMorgan Chase & Co. (NYSE:JPM)

CIC Wealth LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,677 shares of the financial services provider’s stock after selling 217 shares during the quarter. CIC Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $2,139,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Trust Co of the South grew its holdings in JPMorgan Chase & Co. by 1.1% in the first quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock worth $991,000 after purchasing an additional 53 shares during the period. PFW Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 1.1% in the 1st quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock valued at $1,048,000 after buying an additional 55 shares during the period. Murphy Middleton Hinkle & Parker Inc. raised its stake in JPMorgan Chase & Co. by 2.0% during the 1st quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,837 shares of the financial services provider’s stock worth $568,000 after buying an additional 55 shares during the period. Oarsman Capital Inc. boosted its holdings in JPMorgan Chase & Co. by 0.5% in the fourth quarter. Oarsman Capital Inc. now owns 11,008 shares of the financial services provider’s stock worth $1,872,000 after acquiring an additional 59 shares in the last quarter. Finally, Curbstone Financial Management Corp boosted its holdings in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JPM. StockNews.com cut JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Oppenheimer lowered their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Monday, April 15th. Finally, UBS Group lifted their target price on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the transaction, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 217,351 shares in the company, valued at approximately $42,087,847.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the sale, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 250,565 shares of company stock worth $46,962,717. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $199.20 on Friday. The business’s 50 day simple moving average is $196.22 and its 200 day simple moving average is $185.53. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $205.88. The company has a market cap of $572.04 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 2.66 and a beta of 1.12. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly 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. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. Sell-side analysts forecast that JPMorgan Chase & Co. will post 16.44 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

About JPMorgan Chase & Co.

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.