Montchanin Asset Management LLC Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Montchanin Asset Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,317 shares of the financial services provider's stock after selling 1,350 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 6.1% of Montchanin Asset Management LLC's holdings, making the stock its 5th biggest holding. Montchanin Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $6,308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Fourth Dimension Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $471,000. Disciplined Investments LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $217,000. LGT Group Foundation lifted its position in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after acquiring an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. raised its position in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after purchasing an additional 4,375 shares during the period. Finally, Jag Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 10.5% in the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 140 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded down $1.04 during trading on Wednesday, reaching $264.25. The stock had a trading volume of 2,296,675 shares, compared to its average volume of 9,548,656. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $244.84 and a two-hundred day simple moving average of $248.69. The firm has a market capitalization of $734.39 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly 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 company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.44 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on JPM shares. Bank of America dropped their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. KGI Securities began coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Truist Financial set a $270.00 price objective on JPMorgan Chase & Co. in a report on Friday, May 23rd. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $266.65.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the sale, the general counsel now directly owns 36,520 shares of the company's stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,594 shares of company stock worth $23,991,061. 0.47% of the stock is currently owned by corporate insiders.

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.