Legacy Financial Strategies LLC Sells 86 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Legacy Financial Strategies LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,459 shares of the financial services provider’s stock after selling 86 shares during the period. Legacy Financial Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $8,310,884,000. Northern Trust Corp lifted its stake in JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC lifted its stake in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after purchasing an additional 1,914,049 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JPM shares. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a “hold” rating for the company. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price target for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $285.00 price target (up previously from $255.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $266.65.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s 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 sale, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,594 shares of company stock worth $23,991,061. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $263.97 on Friday. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The firm has a fifty day simple moving average of $245.86 and a 200 day simple moving average of $249.13. The company has a market capitalization of $733.60 billion, a PE ratio of 13.37, a P/E/G ratio of 2.83 and a beta of 1.07. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced 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. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.44 earnings per share. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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. Shareholders 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 yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

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.