Marcum Wealth LLC Sells 8,424 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Marcum Wealth LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 23.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,761 shares of the financial services provider’s stock after selling 8,424 shares during the period. JPMorgan Chase & Co. makes up approximately 0.6% of Marcum Wealth LLC’s investment portfolio, making the stock its 25th largest holding. Marcum Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $6,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $29,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $37,000. Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $263.46 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock’s 50-day simple moving average is $245.28 and its 200 day simple moving average is $248.79. The company has a market cap of $732.18 billion, a P/E ratio of 13.35, a P/E/G ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results 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 net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the company earned $4.44 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.13%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on JPM shares. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a “hold” rating on the stock. Robert W. Baird boosted their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Morgan Stanley raised their price target on JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $266.65.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 18,017 shares of the company’s stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,594 shares of company stock worth $23,991,061. Company insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

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.