Hartford Investment Management Co. Sells 3,335 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Hartford Investment Management Co. lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,631 shares of the financial services provider's stock after selling 3,335 shares during the period. JPMorgan Chase & Co. makes up approximately 1.5% of Hartford Investment Management Co.'s investment portfolio, making the stock its 11th biggest position. Hartford Investment Management Co.'s holdings in JPMorgan Chase & Co. were worth $41,856,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at $28,000. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $37,000. Finally, Measured Risk Portfolios Inc. acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $44,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.6%

Shares of JPM stock traded up $1.61 during trading hours on Friday, reaching $288.55. The company had a trading volume of 6,633,369 shares, compared to its average volume of 8,541,502. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The company has a 50 day moving average of $283.74 and a 200 day moving average of $262.70. 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 $793.44 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.93 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the firm earned $6.12 earnings per share. The business's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JPM shares. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Bank of America upped their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Finally, Truist Financial raised their price target 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 equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares of the company's stock, valued at $18,269,422.47. This trade represents a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,557 shares of company stock valued at $4,113,796. 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.