Corrado Advisors LLC Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Corrado Advisors LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,190 shares of the financial services provider's stock after selling 1,385 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.5% of Corrado Advisors LLC's portfolio, making the stock its 17th biggest position. Corrado Advisors LLC's holdings in JPMorgan Chase & Co. were worth $2,254,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC raised 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 period. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $8,310,884,000. Northern Trust Corp increased its position 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 purchasing an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 purchasing an additional 454,226 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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 purchasing an additional 23,465,278 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $291.22 on Friday. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The company has a market cap of $809.33 billion, a PE ratio of 14.94, a P/E/G ratio of 2.54 and a beta of 1.10. 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 business has a 50-day simple moving average of $274.67 and a 200-day simple moving average of $258.05.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, June 30th. Bank of America lifted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock valued at $18,060,015. 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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