Concord Wealth Partners Lowers Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Concord Wealth Partners trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,066 shares of the financial services provider's stock after selling 1,374 shares during the quarter. JPMorgan Chase & Co. makes up 1.2% of Concord Wealth Partners' investment portfolio, making the stock its 21st largest position. Concord Wealth Partners' holdings in JPMorgan Chase & Co. were worth $7,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of JPM. Brighton Jones LLC grew its position 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 worth $11,682,000 after acquiring an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after buying an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE grew its position in shares of JPMorgan Chase & Co. by 16.1% in the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after buying an additional 1,893 shares during the last quarter. KKM Financial LLC grew its position in shares of JPMorgan Chase & Co. by 3.9% in the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after buying an additional 640 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $38,116,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of JPM stock traded up $1.91 during mid-day trading on Friday, hitting $298.46. The company's stock had a trading volume of 5,918,228 shares, compared to its average volume of 9,347,400. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $299.59. The business has a 50-day moving average price of $277.68 and a 200 day moving average price of $259.88. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market cap of $829.45 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.02 and a beta of 1.10.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on 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 completion of the sale, the director owned 91,539 shares of the company's stock, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on JPM shares. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Phillip Securities lowered JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, KGI Securities assumed coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

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.