Sound Income Strategies LLC Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Sound Income Strategies LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,319 shares of the financial services provider’s stock after buying an additional 559 shares during the period. Sound Income Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $1,666,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stone House Investment Management LLC increased its stake in JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 89 shares during the last quarter. Bare Financial Services Inc purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $35,000. Partnership Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $36,000. Stuart Chaussee & Associates Inc. purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $40,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $40,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, 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 transaction, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction 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 owns 42,124 shares in the company, valued at $8,452,180.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction 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 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 quarter, insiders sold 250,565 shares of company stock valued at $46,962,717. 0.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on JPM shares. BMO Capital Markets dropped their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Robert W. Baird increased their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. StockNews.com downgraded JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Oppenheimer decreased their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $197.41 on Thursday. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $205.88. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92. The business has a fifty day moving average of $195.87 and a two-hundred day moving average of $185.44. The company has a market cap of $566.90 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 2.66 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The company had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. As a group, analysts predict that JPMorgan Chase & Co. will post 16.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

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.