Blume Capital Management Inc. Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Blume Capital Management Inc. reduced its holdings in JPMorgan Chase & Co. by 5% during the first quarter, retaining 21,975 shares valued at $5.39 million.
• Several hedge funds increased their stakes in JPMorgan Chase & Co., including Brighton Jones LLC which raised its position by 11% to 48,732 shares.
• The consensus rating for JPMorgan Chase & Co. is "Moderate Buy" with a price target of $288.68, despite varying ratings from analysts ranging from sell to strong buy.

Blume Capital Management Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,975 shares of the financial services provider's stock after selling 1,162 shares during the quarter. Blume Capital Management Inc.'s holdings in JPMorgan Chase & Co. were worth $5,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Winthrop Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 1.8% in the first quarter. Winthrop Capital Management LLC now owns 13,040 shares of the financial services provider's stock worth $3,199,000 after buying an additional 233 shares in the last quarter. Goepper Burkhardt LLC lifted its holdings in shares of JPMorgan Chase & Co. by 14.0% in the 1st quarter. Goepper Burkhardt LLC now owns 2,614 shares of the financial services provider's stock worth $641,000 after acquiring an additional 322 shares during the last quarter. Burney Co. boosted its stake in shares of JPMorgan Chase & Co. by 4.3% in the 1st quarter. Burney Co. now owns 115,285 shares of the financial services provider's stock valued at $28,279,000 after purchasing an additional 4,786 shares in the last quarter. Wakefield Asset Management LLLP raised its position in JPMorgan Chase & Co. by 27.3% in the 1st quarter. Wakefield Asset Management LLLP now owns 21,450 shares of the financial services provider's stock worth $5,262,000 after purchasing an additional 4,596 shares during the period. Finally, Wedbush Securities Inc. boosted its position in JPMorgan Chase & Co. by 5.0% during the first quarter. Wedbush Securities Inc. now owns 89,007 shares of the financial services provider's stock valued at $21,833,000 after buying an additional 4,244 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 2.4%

Shares of JPMorgan Chase & Co. stock traded down $7.03 during trading on Friday, hitting $289.21. The company's stock had a trading volume of 12,005,470 shares, compared to its average volume of 10,131,769. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The company has a fifty day simple moving average of $280.47 and a two-hundred day simple moving average of $261.28. The company has a market capitalization of $803.74 billion, a PE ratio of 14.84, a P/E/G ratio of 2.02 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $6.12 EPS. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Analyst Ratings Changes

Several research analysts have recently commented on JPM shares. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Truist Financial increased their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Finally, Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of "Moderate Buy" and an average price target of $288.68.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were 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 approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction 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 a total of 71,200 shares of company stock valued at $18,060,015 in the last quarter. 0.47% of the stock is owned by company insiders.

About JPMorgan Chase & Co.

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.