Hoey Investments Inc. Sells 3,218 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Hoey Investments Inc. trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,178 shares of the financial services provider's stock after selling 3,218 shares during the period. JPMorgan Chase & Co. accounts for 1.6% of Hoey Investments Inc.'s holdings, making the stock its 9th biggest position. Hoey Investments Inc.'s holdings in JPMorgan Chase & Co. were worth $8,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth $33,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 2.0%

NYSE:JPM traded up $5.26 during midday trading on Monday, hitting $270.21. 6,911,093 shares of the company were exchanged, compared to its average volume of 9,529,124. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $280.25. The company has a market capitalization of $750.93 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a fifty day simple moving average of $252.10 and a 200 day simple moving average of $250.57.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS 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 16.99% and a net margin of 20.96%. The business's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.44 earnings per share. As a group, equities analysts anticipate 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. 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 2.07%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Analyst Ratings Changes

JPM has been the subject of a number of recent analyst reports. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research report on Monday, June 2nd. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Finally, Morgan Stanley reissued an "equal weight" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $269.65.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company'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 now directly owns 62,455 shares of the company's stock, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,722 shares of company stock valued at $25,599,477 in the last ninety days. 0.47% of the stock is currently owned by company insiders.

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.