JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Ballast Advisors LLC

Key Points

• Ballast Advisors LLC has reduced its holdings in JPMorgan Chase & Co. by 5.9%, now owning 45,873 shares valued at approximately $11.25 million.
• CFO Jeremy Barnum sold 40,014 shares at an average price of $250.77, representing a 68.95% decrease in his ownership of the stock.
• JPMorgan Chase & Co. reported a quarterly earnings per share of $4.96, exceeding estimates, although revenue was down 10.5% year-over-year.

Ballast Advisors LLC lowered its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,873 shares of the financial services provider's stock after selling 2,892 shares during the period. JPMorgan Chase & Co. makes up about 3.6% of Ballast Advisors LLC's holdings, making the stock its 8th biggest position. Ballast Advisors LLC's holdings in JPMorgan Chase & Co. were worth $11,253,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake 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 valued at $14,161,171,000 after acquiring an additional 876,417 shares during the period. Northern Trust Corp grew its stake in 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 valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. Bank of New York Mellon Corp grew its stake in JPMorgan Chase & Co. by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the period. GAMMA Investing LLC grew its stake in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors grew its stake in JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock valued at $5,475,223,000 after acquiring an additional 1,914,049 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling

In other news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 in the last ninety days. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $289.21 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The business has a fifty day simple moving average of $281.04 and a two-hundred day simple moving average of $261.57. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $301.29. The company has a market capitalization of $803.74 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.00 and a beta of 1.11.

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

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were given a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of research reports. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley raised their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Company 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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