Tower Wealth Partners Inc. Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Tower Wealth Partners Inc. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.2% in the 1st quarter, HoldingsChannel reports. The firm owned 2,034 shares of the financial services provider’s stock after selling 46 shares during the quarter. Tower Wealth Partners Inc.’s holdings in JPMorgan Chase & Co. were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. DDD Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after acquiring an additional 38 shares during the last quarter. Yoder Wealth Management Inc. lifted its holdings in JPMorgan Chase & Co. by 2.8% in the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 39 shares during the last quarter. Almanack Investment Partners LLC. lifted its holdings in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock valued at $1,233,000 after acquiring an additional 39 shares during the last quarter. Finally, Hurlow Wealth Management Group Inc. lifted its holdings in JPMorgan Chase & Co. by 0.7% in 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 acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.5%

JPMorgan Chase & Co. stock opened at $265.81 on Friday. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The stock’s fifty day simple moving average is $247.68 and its 200-day simple moving average is $249.86. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $738.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the company earned $4.44 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now owns 49,127 shares of the company’s stock, valued at $12,130,438.84. This represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel now directly owns 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,722 shares of company stock valued at $25,599,477 over the last quarter. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Royal Bank of Canada reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday. UBS Group upped their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $267.15.

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.