Earnest Partners LLC Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Earnest Partners LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 44.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,576 shares of the financial services provider’s stock after selling 38,781 shares during the period. Earnest Partners LLC’s holdings in JPMorgan Chase & Co. were worth $9,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of JPM. Stone House Investment Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the period. Retirement Group LLC grew its holdings in shares of JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 109 shares during the period. Richardson Capital Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $34,000. Bare Financial Services Inc purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $35,000. Finally, Partnership Wealth Management LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.7 %

NYSE:JPM traded down $1.39 on Monday, hitting $210.85. 6,071,858 shares of the stock were exchanged, compared to its average volume of 9,220,535. The stock has a market cap of $605.49 billion, a PE ratio of 11.79, a PEG ratio of 2.49 and a beta of 1.12. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average of $202.39 and a 200-day moving average of $191.90. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the firm earned $4.37 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on JPM shares. 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. Citigroup raised their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. UBS Group lifted their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.89.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction dated 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 transaction, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the 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 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 document filed with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,343 shares of company stock valued at $14,137,789. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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.