Occidental Asset Management LLC Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Occidental Asset Management LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 8.2% in the 2nd quarter, Holdings Channel reports. The fund owned 21,834 shares of the financial services provider’s stock after selling 1,944 shares during the quarter. Occidental Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Arlington Trust Co LLC grew its holdings in shares of JPMorgan Chase & Co. by 390.7% during the fourth quarter. Arlington Trust Co LLC now owns 13,876 shares of the financial services provider’s stock valued at $2,360,000 after buying an additional 11,048 shares during the last quarter. Callahan Advisors LLC lifted its position in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Callahan Advisors LLC now owns 138,921 shares of the financial services provider’s stock valued at $23,630,000 after purchasing an additional 1,361 shares during the period. Capital Management Associates Inc bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $365,000. Financial Insights Inc. lifted its position in JPMorgan Chase & Co. by 2.7% during the fourth quarter. Financial Insights Inc. now owns 11,406 shares of the financial services provider’s stock valued at $1,940,000 after purchasing an additional 305 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in JPMorgan Chase & Co. by 3,122.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 820,968 shares of the financial services provider’s stock valued at $139,646,000 after purchasing an additional 795,488 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,799 shares of company stock valued at $2,963,721. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JPM shares. Robert W. Baird increased their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Morgan Stanley increased their price target on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.71.

JPMorgan Chase & Co. Stock Up 0.2 %

Shares of JPM stock opened at $206.19 on Tuesday. The company has a market capitalization of $592.11 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 2.42 and a beta of 1.12. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $217.56. The company’s fifty day moving average price is $203.66 and its 200-day moving average price is $194.67. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period last year, the firm earned $4.37 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were paid a dividend of $1.15 per share. The ex-dividend date was Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.23%. JPMorgan Chase & Co.’s payout ratio is 25.66%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.