JPMorgan Chase & Co. $JPM Position Reduced by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.3% during the fourth quarter, HoldingsChannel reports. The fund owned 24,703 shares of the financial services provider’s stock after selling 2,223 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in JPMorgan Chase & Co. were worth $7,960,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in JPM. Brighton Jones LLC lifted its position in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the last quarter. Acorns Advisers LLC lifted its position in shares of JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after buying an additional 100 shares during the last quarter. Ignite Planners LLC lifted its position in shares of JPMorgan Chase & Co. by 0.7% in the 2nd quarter. Ignite Planners LLC now owns 10,934 shares of the financial services provider’s stock worth $3,185,000 after buying an additional 78 shares during the last quarter. Jump Financial LLC bought a new position in shares of JPMorgan Chase & Co. in the 2nd quarter worth about $1,475,000. Finally, Betterment LLC lifted its position in shares of JPMorgan Chase & Co. by 27.5% in the 2nd quarter. Betterment LLC now owns 1,970 shares of the financial services provider’s stock worth $571,000 after buying an additional 425 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 433 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $295.06, for a total transaction of $127,760.98. Following the completion of the sale, the insider directly owned 64,920 shares in the company, valued at approximately $19,155,295.20. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 4,919 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total transaction of $1,522,036.98. Following the sale, the chief operating officer owned 85,082 shares of the company’s stock, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 28,589 shares of company stock valued at $8,747,496. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of recent research reports. Jefferies Financial Group restated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Wells Fargo & Company dropped their price objective on shares of JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a report on Tuesday, February 17th. Barclays reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Robert W. Baird set a $295.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Finally, Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, May 12th. Fifteen analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $339.08.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $299.04 on Thursday. JPMorgan Chase & Co. has a twelve month low of $260.31 and a twelve month high of $337.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average of $302.05 and a 200-day moving average of $306.96. The firm has a market cap of $801.27 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 EPS for the quarter, topping the consensus estimate of $5.50 by $0.44. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The company had revenue of $50.54 billion during the quarter, compared to analysts’ expectations of $48.30 billion. During the same period last year, the company posted $5.07 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.74%.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What’s Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.