Valmark Advisers Inc. Sells 371 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Valmark Advisers Inc. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,190 shares of the financial services provider’s stock after selling 371 shares during the period. Valmark Advisers Inc.’s holdings in JPMorgan Chase & Co. were worth $9,859,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in JPM. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $29,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $37,000. Finally, Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $43,000. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares of the company’s stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director now owns 91,539 shares of the company’s stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last ninety days. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating on the stock. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $273.15.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $288.88 on Friday. The company’s 50-day moving average price is $260.44 and its 200-day moving average price is $252.45. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market cap of $802.81 billion, a P/E ratio of 14.18, a P/E/G ratio of 2.64 and a beta of 1.08. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $289.41.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the firm posted $4.44 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

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.