JPMorgan Chase & Co. (NYSE:JPM) Position Cut by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 317,620 shares of the financial services provider's stock after selling 15,510 shares during the quarter. Manning & Napier Advisors LLC's holdings in JPMorgan Chase & Co. were worth $77,912,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Capital & Planning LLC raised its holdings in shares of JPMorgan Chase & Co. by 13.3% during the fourth quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider's stock valued at $565,000 after buying an additional 276 shares during the last quarter. Brighton Jones LLC raised its stake in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $66,088,000. SOA Wealth Advisors LLC. raised its stake in JPMorgan Chase & Co. by 1.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock valued at $5,115,000 after acquiring an additional 255 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after acquiring an additional 1,229 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

JPM has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. Royal Bank Of Canada restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, TD Cowen began coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $271.90.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction on 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 now directly owns 36,520 shares of the company's stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction 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 sale, the director now directly owns 91,539 shares in the company, valued at approximately $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. Insiders have sold 71,200 shares of company stock worth $18,060,015 over the last 90 days. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Up 1.0%

Shares of JPMorgan Chase & Co. stock opened at $284.14 on Thursday. The stock's fifty day moving average is $259.29 and its 200-day moving average is $252.14. The firm has a market capitalization of $789.65 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $284.28.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. 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 1.97%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

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.

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