Torray Investment Partners LLC Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Torray Investment Partners LLC reduced its stake in JPMorgan Chase & Co. by 21.5%, now holding 62,097 shares worth approximately $15.23 million.
• JPMorgan's recent earnings report showed $4.96 EPS, exceeding the estimate of $4.48, but revenue fell 10.5% year-over-year.
• The firm announced a quarterly dividend of $1.40 per share, representing an annualized yield of 1.9% with a dividend payout ratio of 28.73%.

Torray Investment Partners LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 21.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,097 shares of the financial services provider's stock after selling 16,996 shares during the period. JPMorgan Chase & Co. comprises about 2.3% of Torray Investment Partners LLC's portfolio, making the stock its 16th biggest position. Torray Investment Partners LLC's holdings in JPMorgan Chase & Co. were worth $15,232,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of 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 buying an additional 4,841 shares in the last quarter. Bank Pictet & Cie Europe AG increased 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 valued at $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE increased 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 valued at $3,266,000 after purchasing an additional 1,893 shares during the last quarter. KKM Financial LLC raised its holdings 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 valued at $4,040,000 after purchasing an additional 640 shares in the last quarter. Finally, OLD Mission Capital LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $225,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,557 shares of company stock worth $4,113,796. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

JPM has been the topic of a number of analyst reports. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating for the company. Truist Financial increased their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Finally, UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded down $4.32 during trading hours on Thursday, hitting $287.03. The company's stock had a trading volume of 8,055,914 shares, compared to its average volume of 8,559,338. JPMorgan Chase & Co. has a 52-week low of $200.61 and a 52-week high of $301.29. 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 business's 50-day moving average is $282.79 and its two-hundred day moving average is $262.34. The company has a market capitalization of $797.67 billion, a PE ratio of 15.17, a PEG ratio of 1.94 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 (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. The business's revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm posted $6.12 EPS. As a group, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

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.