Marietta Wealth Management LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Marietta Wealth Management LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,779 shares of the financial services provider’s stock after selling 609 shares during the quarter. JPMorgan Chase & Co. makes up about 1.6% of Marietta Wealth Management LLC’s holdings, making the stock its 17th largest holding. Marietta Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $10,068,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Gemmer Asset Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.6% during the second quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after purchasing an additional 48 shares during the period. Northside Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the second quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock worth $1,365,000 after acquiring an additional 50 shares during the period. Highland Financial Advisors LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the second quarter. Highland Financial Advisors LLC now owns 7,056 shares of the financial services provider’s stock worth $1,427,000 after acquiring an additional 50 shares during the period. Trust Co of the South grew its holdings in JPMorgan Chase & Co. by 1.1% during the first quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock worth $991,000 after acquiring an additional 53 shares during the period. Finally, Forza Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 0.3% during the second quarter. Forza Wealth Management LLC now owns 17,257 shares of the financial services provider’s stock worth $3,490,000 after acquiring an additional 53 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.1 %

Shares of JPMorgan Chase & Co. stock traded up $2.42 during trading on Friday, hitting $213.97. 7,931,234 shares of the stock traded hands, compared to its average volume of 9,221,095. The stock has a market cap of $614.45 billion, a P/E ratio of 11.93, a PEG ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $217.56. The company has a fifty day moving average price of $204.67 and a two-hundred day moving average price of $195.56.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same period in the previous year, the company earned $4.37 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a dividend of $1.15 per share. The ex-dividend date was Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.15%. JPMorgan Chase & Co.’s dividend payout ratio is 25.66%.

Insider Activity

In other news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares in the company, valued at approximately $42,355,358.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Lori A. Beer sold 5,298 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.64, for a total value of $1,062,990.72. Following the transaction, the insider now directly owns 46,375 shares of the company’s stock, valued at approximately $9,304,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The disclosure for this sale can be found here. Insiders sold a total of 14,799 shares of company stock worth $2,963,721 in the last three months. 0.79% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on JPM shares. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Oppenheimer lifted their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, Keefe, Bruyette & Woods lifted their price target on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

JPMorgan Chase & Co. Company Profile

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.