Granite Group Advisors LLC Sells 485 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Granite Group Advisors LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,658 shares of the financial services provider’s stock after selling 485 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.0% of Granite Group Advisors LLC’s holdings, making the stock its 4th biggest position. Granite Group Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,936,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in JPM. Stone House Investment Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares in the last quarter. Retirement Group LLC lifted its stake in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $34,000. Davidson Capital Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $37,000. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 4.2 %

NYSE JPM traded down $8.82 during trading hours on Friday, hitting $199.14. The company had a trading volume of 18,041,676 shares, compared to its average volume of 9,240,251. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $217.56. The company has a market capitalization of $571.86 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The firm’s 50 day moving average is $203.48 and its 200 day moving average is $192.96.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the prior year, the firm earned $4.37 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th were given a $1.15 dividend. The ex-dividend date was Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.31%. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the transaction, the insider now directly owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction dated Monday, May 6th. The shares were 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 $1,237,860.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the transaction, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The disclosure for this sale can be found here. Insiders sold a total of 72,343 shares of company stock valued at $14,137,789 in the last ninety days. Insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on JPM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Morgan Stanley boosted their price target on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group boosted their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.71.

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.