Hennessy Advisors Inc. Sells 30,300 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Hennessy Advisors Inc. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 84.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,500 shares of the financial services provider's stock after selling 30,300 shares during the quarter. Hennessy Advisors Inc.'s holdings in JPMorgan Chase & Co. were worth $1,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $471,000. Disciplined Investments LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $217,000. LGT Group Foundation lifted its stake in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after acquiring an additional 14,300 shares during the period. Kinsale Capital Group Inc. boosted its holdings in JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock valued at $10,483,000 after acquiring an additional 4,375 shares during the last quarter. Finally, Jag Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded up $4.31 during midday trading on Thursday, hitting $273.83. 9,583,437 shares of the company were exchanged, compared to its average volume of 9,523,464. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $280.25. The firm has a market capitalization of $760.99 billion, a P/E ratio of 13.44, a PEG ratio of 2.72 and a beta of 1.08. The firm's 50 day moving average price is $254.66 and its two-hundred day moving average price is $251.00. 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. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the company posted $4.44 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.05%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the sale, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's 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 transaction, the chief operating officer now owns 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on JPM shares. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective on the stock. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Tuesday, June 10th. Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $271.70.

JPMorgan Chase & Co. 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.