JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by First Fiduciary Investment Counsel Inc.

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

A number of other hedge funds and other institutional investors have also modified their holdings of JPM. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded down $2.06 during mid-day trading on Monday, hitting $293.94. The company's stock had a trading volume of 1,642,154 shares, compared to its average volume of 9,503,079. 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 one year low of $190.90 and a one year high of $296.49. The stock's 50-day moving average is $266.97 and its two-hundred day moving average is $254.88. The firm has a market capitalization of $816.89 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued 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. The firm had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $4.44 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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 given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.91%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday. Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $277.74.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 over the last 90 days. Corporate insiders own 0.47% of the company's stock.

About JPMorgan Chase & Co.

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.