Janney Montgomery Scott LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,734,927 shares of the financial services provider's stock after selling 60,300 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.2% of Janney Montgomery Scott LLC's portfolio, making the stock its 9th largest position. Janney Montgomery Scott LLC owned about 0.06% of JPMorgan Chase & Co. worth $425,578,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in JPM. Sprinkle Financial Consultants LLC grew its stake in JPMorgan Chase & Co. by 9.6% in the 1st quarter. Sprinkle Financial Consultants LLC now owns 2,293 shares of the financial services provider's stock valued at $563,000 after purchasing an additional 201 shares during the period. Mission Wealth Management LP raised its stake in shares of JPMorgan Chase & Co. by 10.0% during the 1st quarter. Mission Wealth Management LP now owns 88,270 shares of the financial services provider's stock worth $21,653,000 after purchasing an additional 8,057 shares during the period. Brown Miller Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.7% in the 1st quarter. Brown Miller Wealth Management LLC now owns 45,075 shares of the financial services provider's stock worth $11,057,000 after buying an additional 304 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in shares of JPMorgan Chase & Co. by 20.7% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 85,625 shares of the financial services provider's stock worth $21,004,000 after buying an additional 14,705 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its position in JPMorgan Chase & Co. by 19.9% during the first quarter. Hanson & Doremus Investment Management now owns 21,466 shares of the financial services provider's stock valued at $5,266,000 after buying an additional 3,560 shares during the period. Hedge funds and other institutional investors own 71.55% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have commented on JPM shares. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock 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 note on Monday, June 2nd. Morgan Stanley reaffirmed an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Robert W. Baird raised their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $271.70.
Check Out Our Latest Analysis on JPM
JPMorgan Chase & Co. Price Performance
Shares of JPM stock traded up $4.31 during trading hours on Thursday, reaching $273.83. The stock had a trading volume of 9,583,437 shares, compared to its average volume of 9,523,464. The stock's fifty day simple moving average is $254.66 and its 200 day simple moving average is $251.00. The firm has a market capitalization of $760.98 billion, a PE ratio of 13.44, a PEG ratio of 2.76 and a beta of 1.08. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $280.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the prior year, the company posted $4.44 EPS. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts predict 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 will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.05%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.
Insider Activity at JPMorgan Chase & Co.
In other news, COO Jennifer Piepszak sold 4,272 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the transaction, the chief operating officer now owns 50,197 shares of the company's stock, valued at $12,400,164.91. This represents a 7.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer now owns 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,722 shares of company stock valued at $25,599,477. Company insiders own 0.47% of the company's stock.
About JPMorgan Chase & Co.
(
Free Report)
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.
Read More
Before you consider JPMorgan Chase & Co., you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and JPMorgan Chase & Co. wasn't on the list.
While JPMorgan Chase & Co. currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
