Atlantic Union Bankshares Corp Sells 11,346 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Atlantic Union Bankshares Corp cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,716 shares of the financial services provider's stock after selling 11,346 shares during the quarter. JPMorgan Chase & Co. comprises 2.2% of Atlantic Union Bankshares Corp's portfolio, making the stock its 7th biggest holding. Atlantic Union Bankshares Corp's holdings in JPMorgan Chase & Co. were worth $35,989,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after acquiring an additional 876,417 shares during the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $8,310,884,000. Northern Trust Corp increased its holdings in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after acquiring an additional 454,226 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $298.46 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $299.59. The company has a market cap of $829.45 billion, a P/E ratio of 15.31, a P/E/G ratio of 2.01 and a beta of 1.10. The business has a fifty day simple moving average of $277.68 and a 200 day simple moving average of $259.76.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the company earned $6.12 EPS. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.88%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Bank of America upped their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong 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 $288.68.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. This represents a 3.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 in the last quarter. Corporate 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.

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