Prospect Financial Group LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Prospect Financial Group LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,604 shares of the financial services provider’s stock after selling 62 shares during the quarter. Prospect Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $639,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Florida Financial Advisors LLC increased its position in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $471,000. Crown Wealth Group LLC increased its position in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 222 shares during the last quarter. Morse Asset Management Inc increased its position in JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC increased its position in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on JPM shares. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating on the stock. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Finally, Wells Fargo & Company boosted their price objective on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the company’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 directly owned 18,017 shares of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last ninety days. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Down 1.1%

NYSE:JPM opened at $296.39 on Friday. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $301.29. The company has a 50-day moving average of $280.47 and a 200 day moving average of $261.28. The firm has a market cap of $823.69 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 2.02 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company 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 firm earned $6.12 earnings per share. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.’s dividend payout ratio is 28.73%.

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.