Handelsbanken Fonder AB Sells 107,623 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Handelsbanken Fonder AB lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,253,696 shares of the financial services provider's stock after selling 107,623 shares during the period. JPMorgan Chase & Co. comprises about 1.3% of Handelsbanken Fonder AB's portfolio, making the stock its 11th largest holding. Handelsbanken Fonder AB's holdings in JPMorgan Chase & Co. were worth $307,532,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Gibson Capital LLC lifted its stake in JPMorgan Chase & Co. by 6.2% during the 1st quarter. Gibson Capital LLC now owns 1,446 shares of the financial services provider's stock worth $355,000 after acquiring an additional 84 shares in the last quarter. Curated Wealth Partners LLC increased its holdings in JPMorgan Chase & Co. by 8.7% during the 1st quarter. Curated Wealth Partners LLC now owns 4,549 shares of the financial services provider's stock worth $1,116,000 after purchasing an additional 365 shares during the period. Ibex Wealth Advisors boosted its stake in shares of JPMorgan Chase & Co. by 20.9% in the 1st quarter. Ibex Wealth Advisors now owns 25,299 shares of the financial services provider's stock valued at $6,206,000 after buying an additional 4,370 shares during the period. First National Bank of Mount Dora Trust Investment Services increased its stake in shares of JPMorgan Chase & Co. by 72.5% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 43,772 shares of the financial services provider's stock worth $10,737,000 after buying an additional 18,390 shares during the period. Finally, Manitou Investment Management Ltd. raised its holdings in shares of JPMorgan Chase & Co. by 0.8% in the 1st quarter. Manitou Investment Management Ltd. now owns 112,236 shares of the financial services provider's stock valued at $27,531,000 after purchasing an additional 927 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on JPM shares. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Tuesday. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research note on Monday, June 2nd. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus target price of $269.65.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded down $0.10 during trading hours on Thursday, hitting $268.05. The company had a trading volume of 6,608,740 shares, compared to its average volume of 9,528,343. The firm's fifty day moving average is $250.05 and its 200 day moving average is $250.34. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25. The firm has a market capitalization of $744.94 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period in the prior year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% on a year-over-year basis. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.09%. JPMorgan Chase & Co.'s dividend payout ratio is 27.49%.

Insider Buying and Selling

In related news, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. This trade represents a 15.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is owned by company insiders.

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.