Essex Financial Services Inc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,238 shares of the financial services provider's stock after selling 1,950 shares during the quarter. JPMorgan Chase & Co. comprises 1.2% of Essex Financial Services Inc.'s portfolio, making the stock its 16th largest position. Essex Financial Services Inc.'s holdings in JPMorgan Chase & Co. were worth $16,248,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 545.0% in the first quarter. Stonebridge Financial Group LLC now owns 27,503 shares of the financial services provider's stock worth $6,746,000 after buying an additional 23,239 shares in the last quarter. Emerald Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 18.1% in the first quarter. Emerald Advisors LLC now owns 3,793 shares of the financial services provider's stock worth $930,000 after buying an additional 582 shares in the last quarter. Goodman Advisory Group LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $76,000. Cohen Investment Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 1,993.3% in the first quarter. Cohen Investment Advisors LLC now owns 464,662 shares of the financial services provider's stock worth $113,982,000 after buying an additional 442,464 shares in the last quarter. Finally, Joel Isaacson & Co. LLC lifted its position in JPMorgan Chase & Co. by 4.2% during the first quarter. Joel Isaacson & Co. LLC now owns 51,603 shares of the financial services provider's stock valued at $12,658,000 after purchasing an additional 2,099 shares during the period. Institutional investors own 71.55% of the company's stock.
Analyst Ratings Changes
JPM has been the topic of a number of research analyst reports. Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective on the stock. in a research report on Friday, June 27th. Finally, Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $277.74.
Get Our Latest Stock Report on JPMorgan Chase & Co.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last ninety days. Insiders own 0.47% of the company's stock.
JPMorgan Chase & Co. Stock Performance
JPM traded up $4.13 during trading on Friday, hitting $296.13. The company's stock had a trading volume of 6,541,646 shares, compared to its average volume of 9,533,583. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The firm has a market cap of $822.96 billion, a PE ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The business's 50 day simple moving average is $266.97 and its 200-day simple moving average is $254.73.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its 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. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter in the previous year, the company earned $4.44 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts predict 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. Shareholders of record on Thursday, July 3rd will be issued 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 1.89%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.
About JPMorgan Chase & Co.
(
Free Report)
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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