Heritage Investors Management Corp Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Heritage Investors Management Corp reduced its stake in JPMorgan Chase & Co. by 2.2%, selling 4,790 shares and now holding 208,279 shares, valued at approximately $51.1 million.
• Institutional investors collectively own 71.55% of JPMorgan's stock, with notable increases from various funds, including a 25,861.9% boost from GAMMA Investing LLC.
• JPMorgan Chase & Co. reported a EPS of $4.96 for the quarter, surpassing expectations, and also announced a dividend of $1.40 per share to be paid on July 31st.

Heritage Investors Management Corp lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,279 shares of the financial services provider's stock after selling 4,790 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.8% of Heritage Investors Management Corp's portfolio, making the stock its 11th biggest holding. Heritage Investors Management Corp's holdings in JPMorgan Chase & Co. were worth $51,091,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Florida Financial Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after buying an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at $471,000. Crown Wealth Group LLC raised its position in JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares in the last quarter. Morse Asset Management Inc lifted its stake in JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 0.9%

Shares of NYSE:JPM traded up $2.59 during trading on Wednesday, hitting $299.63. The company had a trading volume of 8,046,594 shares, compared to its average volume of 8,322,348. The stock has a market cap of $832.70 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. The company has a fifty day simple moving average of $279.75 and a two-hundred day simple moving average of $260.92. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $301.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89.

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

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.87%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Activity

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company's stock, valued at $22,884,750. The trade was a 9.40% decrease in their position. The sale was disclosed in a document filed 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 dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. This represents a 68.95% 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. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Finally, TD Cowen started 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 for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

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.