Highland Capital Management LLC Has $40.18 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Highland Capital Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,798 shares of the financial services provider's stock after selling 10,102 shares during the quarter. JPMorgan Chase & Co. makes up about 2.4% of Highland Capital Management LLC's portfolio, making the stock its 5th largest position. Highland Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $40,180,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock valued at $622,000 after purchasing an additional 38 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its holdings in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock valued at $1,328,000 after purchasing an additional 40 shares during the last quarter. Wimmer Associates 1 LLC boosted its holdings in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after purchasing an additional 40 shares during the last quarter. Finally, Rockbridge Investment Management LCC boosted its holdings in JPMorgan Chase & Co. by 2.3% in the fourth quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock valued at $441,000 after purchasing an additional 41 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the transaction, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 in the last quarter. 0.47% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on JPM shares. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Truist Financial increased their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a report on Monday, June 2nd. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. Bank of America increased their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Finally, KGI Securities started coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $277.74.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded down $4.05 on Monday, reaching $291.95. 8,792,081 shares of the company were exchanged, compared to its average volume of 9,530,752. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The company's 50-day moving average is $267.94 and its two-hundred day moving average is $255.26. The firm has a market cap of $811.36 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 2.75 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.44 EPS. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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 $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

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.