Earnest Partners LLC Sells 38,781 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Earnest Partners LLC reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 44.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 48,576 shares of the financial services provider’s stock after selling 38,781 shares during the quarter. Earnest Partners LLC’s holdings in JPMorgan Chase & Co. were worth $9,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Blackston Financial Advisory Group LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $401,000. Ritholtz Wealth Management increased its holdings in JPMorgan Chase & Co. by 10.6% in the 4th quarter. Ritholtz Wealth Management now owns 66,775 shares of the financial services provider’s stock worth $11,358,000 after acquiring an additional 6,387 shares during the last quarter. Ballast Inc. increased its holdings in JPMorgan Chase & Co. by 9.6% in the 4th quarter. Ballast Inc. now owns 13,746 shares of the financial services provider’s stock worth $2,338,000 after acquiring an additional 1,207 shares during the last quarter. Francis Financial Inc. purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $406,000. Finally, Strong Tower Advisory Services increased its holdings in JPMorgan Chase & Co. by 4.0% in the 4th quarter. Strong Tower Advisory Services now owns 5,947 shares of the financial services provider’s stock worth $1,012,000 after acquiring an additional 226 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM traded down $1.39 during trading hours on Monday, reaching $210.85. 6,071,858 shares of the stock traded hands, compared to its average volume of 9,220,535. The company has a market capitalization of $605.49 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.49 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56. The company’s 50-day simple moving average is $202.39 and its two-hundred day simple moving average is $191.90.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations 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 firm earned $4.37 EPS. Equities research analysts forecast that JPMorgan Chase & Co. will post 16.67 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.18%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.66%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the transaction, the insider now directly owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the transaction, the insider now directly owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The disclosure for this sale can be found here. Insiders have sold 72,343 shares of company stock valued at $14,137,789 in the last ninety days. Company insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on JPM shares. Wells Fargo & Company raised their target price 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. Oppenheimer lifted their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets lifted their price target on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Citigroup lifted their price target on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, July 15th. Finally, Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, July 8th. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.89.

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.