Navellier & Associates Inc. Sells 1,000 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Navellier & Associates Inc. lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 8,540 shares of the financial services provider’s stock after selling 1,000 shares during the period. Navellier & Associates Inc.’s holdings in JPMorgan Chase & Co. were worth $2,157,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in JPM. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Investment Counsel Co. of Nevada acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Prudent Man Investment Management Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $44,000. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on JPM shares. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective on the stock. in a research note on Friday, June 27th. TD Cowen started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a “buy” rating and a $305.00 price objective on the stock. Wells Fargo & Company boosted their price objective on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, July 16th. HSBC reissued a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $288.68.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the sale, the chief operating officer owned 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction 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 of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last three months. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $299.63 on Thursday. The stock has a fifty day simple moving average of $279.75 and a two-hundred day simple moving average of $260.92. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $301.29. The firm has a market cap of $832.70 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period in the prior year, the company earned $6.12 earnings per share. JPMorgan Chase & Co.’s revenue was down 10.5% compared to the same quarter last year. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is currently 28.73%.

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.