Advocate Group LLC Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Advocate Group LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,834 shares of the financial services provider's stock after selling 2,257 shares during the quarter. JPMorgan Chase & Co. comprises 1.9% of Advocate Group LLC's investment portfolio, making the stock its 11th largest holding. Advocate Group LLC's holdings in JPMorgan Chase & Co. were worth $10,262,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at about $8,310,884,000. Northern Trust Corp lifted its position in shares of JPMorgan Chase & Co. by 15.4% in 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 buying an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC boosted its stake 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. Finally, Capital Research Global Investors boosted its stake in shares of JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 6,608 shares of the company's 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 sale, the general counsel now directly owns 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on 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 transaction, the chief operating officer now owns 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded up $2.88 during midday trading on Wednesday, reaching $284.14. The company's stock had a trading volume of 6,825,385 shares, compared to its average volume of 9,491,678. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock has a market cap 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. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $284.47. The business has a 50-day moving average price of $259.29 and a 200-day moving average price of $252.14.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the prior year, the company earned $4.44 EPS. JPMorgan Chase & Co.'s revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 27.49%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on JPM shares. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $271.90.

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.