BCS Wealth Management Has $875,000 Stake in JPMorgan Chase & Co. $JPM

BCS Wealth Management trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 50.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,976 shares of the financial services provider’s stock after selling 3,022 shares during the quarter. BCS Wealth Management’s holdings in JPMorgan Chase & Co. were worth $875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cidel Asset Management Inc. increased its holdings in JPMorgan Chase & Co. by 10.6% in the first quarter. Cidel Asset Management Inc. now owns 93,986 shares of the financial services provider’s stock worth $27,647,000 after purchasing an additional 8,971 shares in the last quarter. Cache Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the first quarter valued at approximately $493,000. Richards Merrill & Peterson Inc. boosted its position in shares of JPMorgan Chase & Co. by 2.3% during the first quarter. Richards Merrill & Peterson Inc. now owns 15,730 shares of the financial services provider’s stock valued at $4,627,000 after buying an additional 354 shares during the last quarter. New Covenant Trust Company N.A. grew its holdings in JPMorgan Chase & Co. by 6.8% during the first quarter. New Covenant Trust Company N.A. now owns 5,535 shares of the financial services provider’s stock worth $1,628,000 after buying an additional 351 shares in the last quarter. Finally, Amarillo National Bank raised its position in JPMorgan Chase & Co. by 3.8% in the 1st quarter. Amarillo National Bank now owns 29,568 shares of the financial services provider’s stock valued at $8,698,000 after buying an additional 1,082 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In related news, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the transaction, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. This trade represents a 10.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total transaction of $1,720,052.05. Following the completion of the sale, the chief financial officer directly owned 35,460 shares of the company’s stock, valued at $10,870,263. This represents a 13.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 33,623 shares of company stock worth $10,427,835. 0.41% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Down 1.9%

JPMorgan Chase & Co. stock opened at $328.73 on Friday. The firm has a market capitalization of $880.83 billion, a price-to-earnings ratio of 15.74, a P/E/G ratio of 1.56 and a beta of 1.00. The firm has a 50 day simple moving average of $311.44 and a 200 day simple moving average of $308.42. JPMorgan Chase & Co. has a 1-year low of $279.10 and a 1-year high of $343.45. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. During the same quarter in the prior year, the firm posted $5.07 EPS. JPMorgan Chase & Co.’s revenue was up 10.0% on a year-over-year basis. On average, analysts predict that JPMorgan Chase & Co. will post 22.44 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be given a dividend of $1.50 per share. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.

JPMorgan Chase & Co. News Summary

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Analyst Upgrades and Downgrades

JPM has been the topic of several recent analyst reports. Dbs Bank upgraded JPMorgan Chase & Co. to a “hold” rating in a research note on Tuesday, May 12th. Barclays reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Robert W. Baird set a $295.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, HSBC upped their price objective on shares of JPMorgan Chase & Co. from $288.00 to $312.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $339.58.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.