TruWealth Advisors LLC Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

TruWealth Advisors LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,517 shares of the financial services provider's stock after selling 14,391 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of TruWealth Advisors LLC's investment portfolio, making the stock its 17th biggest holding. TruWealth Advisors LLC's holdings in JPMorgan Chase & Co. were worth $27,600,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth about $471,000. Disciplined Investments LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $217,000. LGT Group Foundation raised its stake in JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after acquiring an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. raised its stake in JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock valued at $10,483,000 after acquiring an additional 4,375 shares in the last quarter. Finally, Jag Capital Management LLC boosted its position in JPMorgan Chase & Co. by 10.5% during the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock worth $353,000 after acquiring an additional 140 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the transaction, the general counsel now directly owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,594 shares of company stock valued at $23,991,061. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Morgan Stanley reissued an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Evercore ISI decreased their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday. Finally, Bank of America dropped their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $267.15.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded down $2.44 during trading hours on Thursday, reaching $261.78. The stock had a trading volume of 8,165,672 shares, compared to its average volume of 9,543,602. The stock has a market cap of $727.52 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08. The stock has a 50 day simple moving average of $246.91 and a 200 day simple moving average of $249.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 12-month low of $190.88 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. The company 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 20.96% and a return on equity of 16.99%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.44 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.14%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

About JPMorgan Chase & Co.

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.