Congress Asset Management Co. Has $27.66 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Congress Asset Management Co. lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,742 shares of the financial services provider's stock after selling 2,123 shares during the period. Congress Asset Management Co.'s holdings in JPMorgan Chase & Co. were worth $27,656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Redwood Park Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Curat Global LLC acquired a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on JPM shares. Piper Sandler reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Evercore ISI decreased their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective on the stock. Finally, Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Hold" and an average price target of $267.15.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $265.81 on Friday. The firm has a market cap of $738.71 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The firm's fifty day moving average is $247.68 and its 200-day moving average is $249.92. 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 52 week low of $190.88 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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 company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.'s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.44 earnings per share. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm 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 dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,272 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the transaction, the chief operating officer now owns 50,197 shares in the company, valued at approximately $12,400,164.91. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. 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 transaction, the general counsel now owns 68,757 shares in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,722 shares of company stock worth $25,599,477. Company insiders own 0.47% of the company's stock.

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.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.