JPMorgan Chase & Co. (NYSE:JPM) is First Fiduciary Investment Counsel Inc.'s Largest Position

First Fiduciary Investment Counsel Inc. lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,220 shares of the financial services provider's stock after selling 9,290 shares during the quarter. JPMorgan Chase & Co. accounts for 7.1% of First Fiduciary Investment Counsel Inc.'s holdings, making the stock its biggest position. First Fiduciary Investment Counsel Inc.'s holdings in JPMorgan Chase & Co. were worth $32,924,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $29,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 2,821 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 value of $749,567.91. Following the transaction, the general counsel owned 68,757 shares of the company's stock, 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 have sold a total of 71,200 shares of company stock worth $18,060,015 over the last quarter. Company insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird lowered shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. Citigroup set a $275.00 price target on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research note on Monday. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating on the stock. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Finally, Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $280.45.

JPMorgan Chase & Co. Trading Up 0.1%

Shares of NYSE JPM traded up $0.16 during midday trading on Wednesday, reaching $282.94. 11,270,196 shares of the stock were exchanged, compared to its average volume of 9,566,678. The company has a 50 day simple moving average of $269.48 and a 200 day simple moving average of $255.64. The stock has a market capitalization of $786.32 billion, a P/E ratio of 13.89, a PEG ratio of 2.62 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business's revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.44 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.98%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

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.