Hamel Associates Inc. Decreases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Hamel Associates Inc. has reduced its stake in JPMorgan Chase & Co. by 19.2%, now holding 22,027 shares valued at approximately $5.4 million.
• JPMorgan reported a quarterly earnings per share (EPS) of $4.96, exceeding analysts' estimates of $4.48, despite a 10.5% revenue drop compared to the previous year.
• The company declared a quarterly dividend of $1.40, with a dividend yield of 1.87%, payable on July 31st to shareholders of record as of July 3rd.

Hamel Associates Inc. lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 19.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,027 shares of the financial services provider's stock after selling 5,220 shares during the quarter. JPMorgan Chase & Co. makes up 1.8% of Hamel Associates Inc.'s holdings, making the stock its 23rd largest position. Hamel Associates Inc.'s holdings in JPMorgan Chase & Co. were worth $5,403,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JPM. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. GAMMA Investing LLC lifted its position in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Northern Trust Corp lifted its position in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after acquiring an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after acquiring an additional 2,465,572 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on JPM. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective on the stock. Finally, Truist Financial lifted their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 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 $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Down 2.4%

Shares of NYSE JPM traded down $7.03 during trading on Friday, reaching $289.21. The stock had a trading volume of 12,005,470 shares, compared to its average volume of 8,727,902. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $301.29. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The business's 50-day moving average price is $280.47 and its 200-day moving average price is $261.28. The company has a market cap of $803.74 billion, a P/E ratio of 14.84, a PEG ratio of 2.00 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the previous year, the firm posted $6.12 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

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.