Corundum Group Inc. Sells 3,259 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Corundum Group Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 24.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,064 shares of the financial services provider's stock after selling 3,259 shares during the quarter. JPMorgan Chase & Co. makes up about 1.2% of Corundum Group Inc.'s portfolio, making the stock its 18th largest position. Corundum Group Inc.'s holdings in JPMorgan Chase & Co. were worth $2,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $8,310,884,000. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of JPMorgan Chase & Co. by 34,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock valued at $838,865,000 after buying an additional 3,489,314 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of JPMorgan Chase & Co. by 31.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after buying an additional 2,551,899 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Down 0.5%

NYSE:JPM opened at $287.31 on Monday. The company has a 50-day moving average price of $261.55 and a 200-day moving average price of $252.90. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $289.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock has a market cap of $798.45 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 2.67 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. During the same period last year, the company posted $4.44 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company 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. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now owns 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer now directly owns 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a report on Monday, June 2nd. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Royal Bank Of Canada restated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Finally, Evercore ISI cut their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $273.15.

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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