BankPlus Wealth Management LLC Sells 52 Shares of JPMorgan Chase & Co. (NYSE:JPM)

BankPlus Wealth Management LLC lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.5% in the 1st quarter, Holdings Channel.com reports. The fund owned 3,436 shares of the financial services provider’s stock after selling 52 shares during the period. JPMorgan Chase & Co. makes up about 0.6% of BankPlus Wealth Management LLC’s holdings, making the stock its 28th biggest holding. BankPlus Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $843,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Blue Bell Private Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 38 shares in the last quarter. Hurlow Wealth Management Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock valued at $1,328,000 after purchasing an additional 40 shares in the last quarter. Wimmer Associates 1 LLC boosted its holdings in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock worth $986,000 after purchasing an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock worth $3,340,000 after purchasing an additional 40 shares during the last quarter. Finally, Rockbridge Investment Management LCC grew its position in JPMorgan Chase & Co. by 2.3% in the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of a number of research analyst reports. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Finally, Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, June 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $277.74.

JPMorgan Chase & Co. Stock Up 1.4%

JPMorgan Chase & Co. stock opened at $296.13 on Friday. The firm has a 50 day simple moving average of $266.97 and a 200 day simple moving average of $254.56. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The firm has a market capitalization of $822.96 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Insider Activity

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the transaction, the general counsel owned 68,757 shares of the company’s stock, valued at $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. 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.