Carr Financial Group Corp Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Carr Financial Group Corp cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,782 shares of the financial services provider’s stock after selling 576 shares during the quarter. Carr Financial Group Corp’s holdings in JPMorgan Chase & Co. were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Arvest Investments Inc. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $7,791,000. Amarillo National Bank raised its stake in shares of JPMorgan Chase & Co. by 0.9% in the 4th quarter. Amarillo National Bank now owns 29,786 shares of the financial services provider’s stock valued at $5,067,000 after acquiring an additional 272 shares during the period. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $1,017,893,000. Arkadios Wealth Advisors boosted its position in JPMorgan Chase & Co. by 4.9% during the 4th quarter. Arkadios Wealth Advisors now owns 52,292 shares of the financial services provider’s stock worth $8,895,000 after purchasing an additional 2,456 shares during the period. Finally, Moody Lynn & Lieberson LLC increased its holdings in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 190,297 shares of the financial services provider’s stock valued at $32,370,000 after purchasing an additional 1,203 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction on Monday, June 10th. The stock was 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 owns 212,265 shares in the company, valued at approximately $42,355,358.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Marianne Lake sold 11,734 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $200.02, for a total value of $2,347,034.68. Following the completion of the sale, the chief executive officer now owns 122,740 shares in the company, valued at $24,550,454.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,533 shares of company stock worth $5,310,756. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

JPM stock traded up $1.74 during trading on Friday, reaching $205.80. 5,540,240 shares of the company’s stock were exchanged, compared to its average volume of 9,292,017. The firm has a market cap of $590.99 billion, a PE ratio of 11.48, a P/E/G ratio of 2.42 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 1-year low of $135.19 and a 1-year high of $217.56. The company’s fifty day moving average price is $203.58 and its 200-day moving average price is $194.27.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The firm 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 last year, the company posted $4.37 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm 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. This represents a $4.60 annualized dividend and a yield of 2.24%. The ex-dividend date was Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

Analyst Ratings Changes

Several brokerages have recently weighed in on JPM. Barclays upped their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a report on Tuesday, July 9th. Finally, Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.71.

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.