Centricity Wealth Management LLC Sells 137 Shares of JPMorgan Chase & Co. $JPM

Centricity Wealth Management LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,962 shares of the financial services provider’s stock after selling 137 shares during the quarter. JPMorgan Chase & Co. makes up approximately 0.7% of Centricity Wealth Management LLC’s portfolio, making the stock its 29th largest holding. Centricity Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. LCM Capital Management Inc raised its position in JPMorgan Chase & Co. by 0.9% during the second quarter. LCM Capital Management Inc now owns 3,847 shares of the financial services provider’s stock valued at $1,115,000 after acquiring an additional 36 shares in the last quarter. Lakeshore Financial Planning Inc. raised its position in JPMorgan Chase & Co. by 0.4% during the second quarter. Lakeshore Financial Planning Inc. now owns 8,417 shares of the financial services provider’s stock valued at $2,441,000 after acquiring an additional 37 shares in the last quarter. Western Financial Corp CA raised its position in JPMorgan Chase & Co. by 1.5% during the second quarter. Western Financial Corp CA now owns 2,642 shares of the financial services provider’s stock valued at $766,000 after acquiring an additional 38 shares in the last quarter. First Command Advisory Services Inc. raised its position in JPMorgan Chase & Co. by 0.4% during the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider’s stock valued at $2,283,000 after acquiring an additional 40 shares in the last quarter. Finally, Black Swift Group LLC raised its position in JPMorgan Chase & Co. by 0.7% during the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider’s stock valued at $1,413,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. Phillip Securities lowered shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 8th. Evercore ISI boosted their price objective on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, HSBC restated a “reduce” rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Fifteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $309.95.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPM stock opened at $307.61 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $202.16 and a 1 year high of $318.01. The firm’s fifty day simple moving average is $301.10 and its 200 day simple moving average is $275.67. The firm has a market capitalization of $845.85 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the previous year, the firm posted $6.12 earnings per share. JPMorgan Chase & Co.’s revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be issued a $1.50 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. This represents a $6.00 annualized dividend and a yield of 2.0%. JPMorgan Chase & Co.’s payout ratio is presently 30.79%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company’s stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.47% of the stock is owned by company insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.