Davis Selected Advisers Sells 17,871 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Davis Selected Advisers cut its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 639,852 shares of the financial services provider's stock after selling 17,871 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Davis Selected Advisers' holdings, making the stock its 26th largest holding. Davis Selected Advisers' holdings in JPMorgan Chase & Co. were worth $156,956,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp grew its holdings in 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 valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in 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 valued at $6,083,723,000 after purchasing an additional 454,226 shares during the last quarter. GAMMA Investing LLC grew its stake in JPMorgan Chase & Co. by 25,861.9% in 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 acquiring an additional 23,465,278 shares in the last quarter. Capital Research Global Investors grew its stake in JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after acquiring an additional 548,853 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of research analyst reports. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, July 7th. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Finally, Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction 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 approximately $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,557 shares of company stock valued at $4,113,796. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.1%

NYSE:JPM opened at $292.63 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. The firm has a 50 day moving average of $284.76 and a 200 day moving average of $263.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $804.66 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.92 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $6.12 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were issued a $1.40 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

JPMorgan Chase & Co. Company 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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