Armstrong Fleming & Moore Inc Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Armstrong Fleming & Moore Inc lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 50.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,069 shares of the financial services provider's stock after selling 5,248 shares during the quarter. JPMorgan Chase & Co. comprises 1.5% of Armstrong Fleming & Moore Inc's investment portfolio, making the stock its 18th biggest holding. Armstrong Fleming & Moore Inc's holdings in JPMorgan Chase & Co. were worth $1,243,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $8,310,884,000. Northern Trust Corp boosted its position in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. GAMMA Investing LLC boosted its position in 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 during the period. Finally, Capital Research Global Investors boosted its position in 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 during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer now directly owns 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 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 value of $749,567.91. Following the completion of the transaction, the general counsel now owns 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,722 shares of company stock valued at $25,599,477. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the topic of a number of recent analyst reports. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Evercore ISI lowered their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Truist Financial increased their price objective on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a report on Monday. UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Finally, Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $267.15.

JPMorgan Chase & Co. Price Performance

JPM traded up $3.86 during trading on Friday, reaching $265.81. The stock had a trading volume of 7,734,607 shares, compared to its average volume of 9,548,762. The business has a 50-day moving average of $247.24 and a 200-day moving average of $249.70. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25. The stock has a market cap of $738.71 billion, a PE ratio of 13.47, a PEG ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $4.44 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm 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 $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

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.