Farrow Financial Inc. Sells 2,158 Shares of JPMorgan Chase & Co. $JPM

Farrow Financial Inc. lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.0% during the 1st quarter, HoldingsChannel reports. The firm owned 8,142 shares of the financial services provider’s stock after selling 2,158 shares during the quarter. Farrow Financial Inc.’s holdings in JPMorgan Chase & Co. were worth $2,395,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Timmons Wealth Management LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth $32,000. MBM Wealth Consultants LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth $29,000. Osbon Capital Management LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth $35,000. Finally, Turning Point Benefit Group Inc. bought a new stake in JPMorgan Chase & Co. during the third quarter valued at about $35,000. Institutional investors own 71.55% of the company’s stock.

Key Stories Impacting JPMorgan Chase & Co.

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

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. Weiss Ratings raised JPMorgan Chase & Co. from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, July 6th. Barclays boosted their price objective on JPMorgan Chase & Co. from $391.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday. Robert W. Baird increased their target price on JPMorgan Chase & Co. from $295.00 to $305.00 and gave the company a “neutral” rating in a research note on Wednesday. Bank of America raised their target price on JPMorgan Chase & Co. from $362.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Finally, Dbs Bank raised JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Fifteen investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $354.42.

Get Our Latest Analysis on JPM

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 4,919 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.42, for a total value of $1,522,036.98. Following the completion of the transaction, the chief operating officer directly owned 85,082 shares in the company, valued at approximately $26,326,072.44. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the transaction, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This trade represents a 8.52% 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 quarter, insiders sold 18,876 shares of company stock worth $5,907,051. 0.41% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Up 1.1%

Shares of JPM opened at $346.77 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.85. The company has a 50-day simple moving average of $317.58 and a 200-day simple moving average of $309.98. JPMorgan Chase & Co. has a 52 week low of $279.10 and a 52 week high of $351.24. The firm has a market capitalization of $929.17 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.56 and a beta of 0.99.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 18.23% and a net margin of 21.86%.The business had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. During the same period last year, the business earned $5.07 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 22.82 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.7%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.71%.

JPMorgan Chase & Co. Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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