Davis Rea LTD. cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,723 shares of the financial services provider’s stock after selling 1,453 shares during the quarter. JPMorgan Chase & Co. comprises about 5.0% of Davis Rea LTD.’s investment portfolio, making the stock its 4th biggest holding. Davis Rea LTD.’s holdings in JPMorgan Chase & Co. were worth $8,304,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Retirement Financial Solutions LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $26,000. Creative Capital Management Investments LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $30,000. Adirondack Retirement Specialists Inc. grew its stake in JPMorgan Chase & Co. by 510.8% during the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 189 shares in the last quarter. Boulder Wealth Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $44,000. 70.10% of the stock is currently owned by institutional investors.
JPMorgan Chase & Co. Stock Down 1.0 %
Shares of JPMorgan Chase & Co. stock opened at $143.21 on Friday. The stock has a market capitalization of $418.50 billion, a P/E ratio of 10.57, a PEG ratio of 2.02 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average price of $139.36 and a two-hundred day moving average price of $137.14. JPMorgan Chase & Co. has a 12-month low of $101.28 and a 12-month high of $147.48.
JPMorgan Chase & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders 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 yield of 2.79%. JPMorgan Chase & Co.’s payout ratio is currently 29.52%.
Analyst Ratings Changes
JPM has been the topic of several research analyst reports. 92 Resources reaffirmed a “maintains” rating on shares of JPMorgan Chase & Co. in a research note on Friday, May 12th. Citigroup lowered their target price on JPMorgan Chase & Co. from $165.00 to $160.00 in a research note on Monday, June 26th. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. Credit Suisse Group lifted their target price on JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. Finally, Morgan Stanley lifted their target price on JPMorgan Chase & Co. from $157.00 to $160.00 in a research note on Tuesday, May 23rd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $157.35.
Insiders Place Their Bets
In other news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through this link. In other news, CEO Douglas B. Petno sold 4,930 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $142.16, for a total transaction of $700,848.80. Following the completion of the transaction, the chief executive officer now directly owns 277,161 shares in the company, valued at $39,401,207.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the transaction, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The disclosure for this sale can be found here. Insiders sold 145,861 shares of company stock valued at $19,858,275 over the last 90 days. 0.79% of the stock is currently owned by company insiders.
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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