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JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Indie Asset Partners LLC

JPMorgan Chase & Co. logo with Finance background

Key Points

  • Indie Asset Partners LLC reduced its stake in JPMorgan Chase & Co. by 32.2%, selling 2,047 shares, bringing its total ownership to 4,307 shares, valued at approximately $1,056,000.
  • Despite some investors reducing their positions, others such as Brighton Jones LLC and Highview Capital Management LLC increased their holdings, reflecting diverse investor sentiment, with 71.55% of shares owned by institutional investors.
  • JPMorgan Chase & Co. reported earnings per share of $4.96 for the most recent quarter, exceeding expectations, although revenue was down 10.5% compared to the same quarter last year.
  • Five stocks we like better than JPMorgan Chase & Co..

Indie Asset Partners LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 32.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,307 shares of the financial services provider's stock after selling 2,047 shares during the period. JPMorgan Chase & Co. comprises about 0.9% of Indie Asset Partners LLC's portfolio, making the stock its 16th biggest holding. Indie Asset Partners LLC's holdings in JPMorgan Chase & Co. were worth $1,056,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in JPMorgan Chase & Co. by 11.0% during the fourth 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 period. Bank Pictet & Cie Europe AG raised its position in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after acquiring an additional 1,229 shares during the period. Highview Capital Management LLC DE raised its position in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after acquiring an additional 1,893 shares during the period. KKM Financial LLC raised its position in JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after acquiring an additional 640 shares during the period. Finally, OLD Mission Capital LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $225,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JPM shares. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Bank of America increased their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price for the company. in a research report on Friday, June 27th. Finally, Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average price target of $288.68.

View Our Latest Stock Analysis on JPM

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer directly owned 68,583 shares of the company's stock, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Down 2.4%

Shares of JPM opened at $289.21 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $301.29. The firm has a 50-day moving average price of $281.04 and a 200 day moving average price of $261.69. The firm has a market capitalization of $803.74 billion, a P/E ratio of 14.84, a P/E/G ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $6.12 earnings per share. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

JPMorgan Chase & Co. Company Profile

(Free Report)

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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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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