JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,418,498 shares of the financial services provider's stock after selling 160,088 shares during the quarter. JPMorgan Chase & Co. comprises about 0.7% of Principal Financial Group Inc.'s investment portfolio, making the stock its 29th biggest position. Principal Financial Group Inc. owned about 0.19% of JPMorgan Chase & Co. worth $1,329,158,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Blue Bell Private Wealth Management LLC raised its position in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock valued at $622,000 after purchasing an additional 38 shares during the last quarter. Hurlow Wealth Management Group Inc. raised its position in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock valued at $1,328,000 after purchasing an additional 40 shares during the last quarter. Wimmer Associates 1 LLC raised its position in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC raised its position in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after purchasing an additional 40 shares during the last quarter. Finally, Rockbridge Investment Management LCC increased its position in JPMorgan Chase & Co. by 2.3% in the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock valued at $441,000 after acquiring an additional 41 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director directly owned 91,539 shares in the company, valued at $22,884,750. This trade represents a 9.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last quarter. Insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JPM. Robert W. Baird cut shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target for the company. in a research report on Friday, June 27th. Truist Financial upped their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods upgraded shares of JPMorgan Chase & Co. from a "market perform" rating to an "outperform" rating and set a $327.00 price target on the stock in a research report on Wednesday. Finally, HSBC restated a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $280.45.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $282.94 on Thursday. The firm has a market cap of $786.32 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.62 and a beta of 1.10. The company's 50 day moving average is $269.48 and its 200 day moving average is $255.64. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $4.44 earnings per share. On average, sell-side 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 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 1.98%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

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.

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.