626 Financial LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 3.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,102 shares of the financial services provider’s stock after selling 414 shares during the period. JPMorgan Chase & Co. makes up 1.1% of 626 Financial LLC’s portfolio, making the stock its 17th biggest holding. 626 Financial LLC’s holdings in JPMorgan Chase & Co. were worth $1,707,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of JPM. Retirement Financial Solutions LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $26,000. Adirondack Retirement Specialists Inc. increased its holdings in shares of JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after buying an additional 189 shares in the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $30,000. Boulder Wealth Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Finally, Capital Directions Investment Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $44,000. 70.10% of the stock is currently owned by institutional investors.
Insider Transactions at JPMorgan Chase & Co.
In other news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the sale, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ashley Bacon sold 16,766 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the sale, the insider now owns 195,356 shares in the company, valued at $26,373,060. The disclosure for this sale can be found here. Insiders have sold a total of 145,861 shares of company stock valued at $19,858,275 over the last three months. 0.79% of the stock is currently owned by corporate insiders.
JPMorgan Chase & Co. Trading Down 0.5 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to analysts’ expectations of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the firm posted $2.63 earnings per share. Equities research analysts predict that JPMorgan Chase & Co. will post 14.35 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.88%. JPMorgan Chase & Co.’s dividend payout ratio is 29.52%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on JPM shares. 92 Resources reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Friday, May 12th. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 18th. They set a “hold” rating for the company. Oppenheimer raised their price target on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” rating in a report on Monday, April 17th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Finally, Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.65.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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