Arvest Investments Inc. Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Arvest Investments Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 15.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,393 shares of the financial services provider's stock after selling 5,564 shares during the period. JPMorgan Chase & Co. comprises approximately 1.2% of Arvest Investments Inc.'s investment portfolio, making the stock its 22nd largest position. Arvest Investments Inc.'s holdings in JPMorgan Chase & Co. were worth $7,456,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of JPM. DDD Partners LLC increased its holdings in JPMorgan Chase & Co. by 2.8% in the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 38 shares during the period. Blue Bell Private Wealth Management LLC increased its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock worth $622,000 after purchasing an additional 38 shares in the last quarter. Almanack Investment Partners LLC. lifted its stake in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider's stock valued at $1,233,000 after buying an additional 39 shares during the period. Hurlow Wealth Management Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after buying an additional 40 shares in the last quarter. Finally, Wimmer Associates 1 LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after buying an additional 40 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded down $3.52 during trading hours on Friday, reaching $264.72. The stock had a trading volume of 7,095,259 shares, compared to its average volume of 9,522,372. The stock has a market cap of $735.69 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The stock has a 50 day simple moving average of $251.13 and a 200 day simple moving average of $250.46. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned $4.44 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Piper Sandler reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Robert W. Baird upped their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Finally, Evercore ISI decreased their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $269.65.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the transaction, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. This trade represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer now owns 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,722 shares of company stock valued at $25,599,477. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Company Profile

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.