Formidable Asset Management LLC Has $6.86 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Formidable Asset Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,972 shares of the financial services provider's stock after selling 1,139 shares during the period. JPMorgan Chase & Co. accounts for about 1.1% of Formidable Asset Management LLC's investment portfolio, making the stock its 13th biggest holding. Formidable Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $6,862,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of JPM. Brighton Jones LLC lifted its position in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after buying an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE lifted its position in shares of JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after buying an additional 1,893 shares during the last quarter. KKM Financial LLC lifted its position in shares of JPMorgan Chase & Co. by 3.9% in the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after buying an additional 640 shares during the last quarter. Finally, Madison Investment Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $38,116,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded up $1.91 during mid-day trading on Friday, reaching $298.46. 5,918,228 shares of the company were exchanged, compared to its average volume of 9,347,400. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $299.59. The company has a fifty day simple moving average of $277.68 and a 200-day simple moving average of $259.88. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The firm has a market cap of $829.45 billion, a PE ratio of 15.31, a PEG ratio of 2.02 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the company posted $6.12 EPS. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.88%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,129 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the sale, the chief operating officer owned 68,583 shares of the company's stock, valued at $17,197,873.08. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating for the company. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Finally, Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

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.