Traders Sell Shares of JPMorgan Chase & Co. (JPM) on Strength Following Insider Selling

Investors sold shares of JPMorgan Chase & Co. (NYSE:JPM) on strength during trading hours on Thursday after an insider sold shares in the company. $228.35 million flowed into the stock on the tick-up and $333.89 million flowed out of the stock on the tick-down, for a money net flow of $105.54 million out of the stock. Of all stocks tracked, JPMorgan Chase & Co. had the 0th highest net out-flow for the day. JPMorgan Chase & Co. traded up $0.42 for the day and closed at $102.92Specifically, insider Ashley Bacon sold 5,831 shares of the company’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $102.78, for a total transaction of $599,310.18. Following the completion of the sale, the insider now owns 98,838 shares in the company, valued at $10,158,569.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.73% of the stock is owned by corporate insiders.

A number of brokerages recently weighed in on JPM. Vining Sparks reaffirmed a “buy” rating and set a $125.00 price objective on shares of JPMorgan Chase & Co. in a report on Friday, October 12th. Bank of America set a $132.00 price objective on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Sunday, October 14th. Wells Fargo & Co set a $130.00 price objective on JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Thursday, November 15th. Finally, Zacks Investment Research raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Tuesday, October 16th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $122.94.

The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 1.22. The firm has a market cap of $348.96 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, January 15th. The financial services provider reported $1.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.20 by ($0.22). The firm had revenue of $26.10 billion during the quarter, compared to analyst estimates of $26.69 billion. JPMorgan Chase & Co. had a net margin of 24.71% and a return on equity of 14.07%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company posted $1.76 EPS. On average, research analysts anticipate that JPMorgan Chase & Co. will post 9.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Friday, January 4th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, January 3rd. JPMorgan Chase & Co.’s payout ratio is currently 35.56%.

Several institutional investors and hedge funds have recently bought and sold shares of JPM. Bogart Wealth LLC raised its holdings in shares of JPMorgan Chase & Co. by 19.0% in the 4th quarter. Bogart Wealth LLC now owns 625 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 100 shares during the period. Carmichael Hill & Associates Inc. raised its holdings in shares of JPMorgan Chase & Co. by 2.3% in the 4th quarter. Carmichael Hill & Associates Inc. now owns 6,785 shares of the financial services provider’s stock worth $662,000 after purchasing an additional 152 shares during the period. Lourd Capital LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.5% in the 4th quarter. Lourd Capital LLC now owns 29,034 shares of the financial services provider’s stock worth $2,834,000 after purchasing an additional 155 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 22,886 shares of the financial services provider’s stock worth $2,234,000 after purchasing an additional 189 shares during the period. Finally, Granite Investment Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.5% in the 4th quarter. Granite Investment Advisors LLC now owns 40,149 shares of the financial services provider’s stock worth $3,919,000 after purchasing an additional 190 shares during the period. 70.11% of the stock is currently owned by institutional investors and hedge funds.

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About JPMorgan Chase & Co. (NYSE:JPM)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.

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