Conning Inc. Has $38.84 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Conning Inc. cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 158,343 shares of the financial services provider's stock after selling 13,767 shares during the quarter. JPMorgan Chase & Co. accounts for 1.4% of Conning Inc.'s investment portfolio, making the stock its 8th largest position. Conning Inc.'s holdings in JPMorgan Chase & Co. were worth $38,842,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $8,310,884,000. GAMMA Investing LLC raised its position in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Northern Trust Corp lifted its stake in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after purchasing an additional 2,465,572 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the sale, the general counsel directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the director owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 1.8%

NYSE:JPM traded up $4.98 during mid-day trading on Thursday, reaching $288.14. The stock had a trading volume of 8,404,198 shares, compared to its average volume of 9,562,079. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $800.76 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 2.62 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. The stock's 50 day simple moving average is $269.48 and its two-hundred day simple moving average is $255.64.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released 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. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the business posted $4.44 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Analyst Ratings Changes

Several equities analysts have issued reports on JPM shares. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods upgraded shares of JPMorgan Chase & Co. from a "market perform" rating to an "outperform" rating and set a $327.00 price objective for the company in a research report on Wednesday. UBS Group raised their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $280.45.

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.