Cardinal Capital Management Sells 1,144 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Cardinal Capital Management cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,406 shares of the financial services provider's stock after selling 1,144 shares during the period. JPMorgan Chase & Co. comprises approximately 2.1% of Cardinal Capital Management's holdings, making the stock its 7th largest holding. Cardinal Capital Management's holdings in JPMorgan Chase & Co. were worth $13,591,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating on the stock. Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Morgan Stanley restated an "equal weight" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, UBS Group boosted their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $271.70.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $273.83 on Friday. The company has a market cap of $760.98 billion, a PE ratio of 13.44, a PEG ratio of 2.76 and a beta of 1.08. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $280.25. The company's 50-day moving average is $255.59 and its two-hundred day moving average is $251.19.

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 earnings per share for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the firm posted $4.44 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Activity

In other JPMorgan Chase & Co. news, 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 value of $10,034,310.78. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer now owns 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,722 shares of company stock valued at $25,599,477 in the last 90 days. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. 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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