Granite Bay Wealth Management LLC Has $6.10 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Granite Bay Wealth Management LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,885 shares of the financial services provider's stock after selling 1,633 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.1% of Granite Bay Wealth Management LLC's investment portfolio, making the stock its 16th largest holding. Granite Bay Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $6,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.5%

Shares of NYSE JPM traded up $3.86 during midday trading on Friday, reaching $265.81. The company's stock had a trading volume of 6,204,247 shares, compared to its average volume of 9,540,271. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25. The stock has a market capitalization of $738.71 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 2.83 and a beta of 1.08. The stock has a 50 day simple moving average of $247.24 and a 200-day simple moving average of $249.70.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the firm earned $4.44 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 2.11%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. This trade represents a 15.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on JPM. Robert W. Baird boosted their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Baird R W upgraded shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Evercore ISI reduced their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Finally, Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a report on Monday. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $267.15.

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.