Envestnet Asset Management Inc. Sells 5,661 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Envestnet Asset Management Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,077,702 shares of the financial services provider's stock after selling 5,661 shares during the period. JPMorgan Chase & Co. accounts for about 0.6% of Envestnet Asset Management Inc.'s investment portfolio, making the stock its 28th biggest holding. Envestnet Asset Management Inc. owned approximately 0.25% of JPMorgan Chase & Co. worth $1,736,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after buying an additional 876,417 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $8,310,884,000. Northern Trust Corp increased its position in JPMorgan Chase & Co. by 15.4% in 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 buying an additional 4,515,147 shares during the period. Bank of New York Mellon Corp increased its position in JPMorgan Chase & Co. by 1.9% in 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 buying an additional 454,226 shares during the period. Finally, GAMMA Investing LLC increased its position 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 buying an additional 23,465,278 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM stock traded down $1.41 during trading on Friday, hitting $286.78. The company had a trading volume of 7,378,197 shares, compared to its average volume of 9,530,369. The company has a fifty day moving average price of $270.98 and a two-hundred day moving average price of $256.39. 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 company has a market cap of $796.99 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.62 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the company posted $4.44 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal 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 given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.95%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the transaction, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction 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 completion of the transaction, the general counsel owned 36,520 shares of the company's stock, 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. In the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on JPM shares. Robert W. Baird downgraded JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research report on Friday, June 27th. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $284.42.

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.