Connecticut Wealth Management LLC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Connecticut Wealth Management LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,977 shares of the financial services provider's stock after selling 968 shares during the quarter. Connecticut Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $5,508,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of JPM. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $29,000. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $37,000. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,272 shares of the company's 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 completion of the sale, the chief operating officer now owns 50,197 shares of the company's stock, valued at $12,400,164.91. This represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the business'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 $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,594 shares of company stock worth $23,991,061 in the last three months. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 1.7%

JPM stock opened at $261.09 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company has a market capitalization of $725.60 billion, a PE ratio of 13.23, a P/E/G ratio of 2.83 and a beta of 1.07. The firm's 50-day moving average is $242.84 and its 200 day moving average is $247.77. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $260.00 to $295.00 and gave the stock an "overweight" rating in a research note on Tuesday. StockNews.com upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Bank of America lowered their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.20.

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.