JPMorgan Chase & Co. (NYSE:JPM) is Mitchell Sinkler & Starr PA's 4th Largest Position

Key Points

• Mitchell Sinkler & Starr PA reduced its stake in JPMorgan Chase & Co. by 4.3%, now holding 47,609 shares valued at approximately $11.68 million, making it the firm's 4th largest investment.
• Insider sales included CFO Jeremy Barnum offloading 40,014 shares and COO Jennifer Piepszak selling 6,128 shares, indicating a decrease in their ownership percentages.
• Despite a 10.5% year-over-year revenue drop, JPMorgan's recent quarterly earnings exceeded expectations with an EPS of $4.96 compared to estimates of $4.48.

Mitchell Sinkler & Starr PA decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,609 shares of the financial services provider's stock after selling 2,163 shares during the period. JPMorgan Chase & Co. accounts for approximately 3.3% of Mitchell Sinkler & Starr PA's investment portfolio, making the stock its 4th largest position. Mitchell Sinkler & Starr PA's holdings in JPMorgan Chase & Co. were worth $11,678,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in JPM. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were 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 directly owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 in the last ninety days. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. UBS Group raised their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, April 17th. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Finally, Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Trading Down 2.4%

NYSE JPM opened at $289.21 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market cap of $803.74 billion, a PE ratio of 14.84, a P/E/G ratio of 2.00 and a beta of 1.11. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $301.29. The firm's fifty day moving average is $281.04 and its two-hundred day moving average is $261.57.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the business posted $6.12 earnings per share. The business's revenue was down 10.5% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

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.

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