JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Bridge Creek Capital Management LLC

Bridge Creek Capital Management LLC lessened its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,377 shares of the financial services provider's stock after selling 2,880 shares during the quarter. JPMorgan Chase & Co. comprises 3.3% of Bridge Creek Capital Management LLC's holdings, making the stock its 2nd largest position. Bridge Creek Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $10,395,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after acquiring an additional 876,417 shares in the last quarter. Norges Bank acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth $8,310,884,000. Northern Trust Corp increased its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. GAMMA Investing LLC boosted its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after buying an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors grew its position in shares of JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after buying an additional 1,914,049 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JPM. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating for the company. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Finally, Truist Financial lifted their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research report on Monday. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $267.15.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded down $1.89 during midday trading on Wednesday, hitting $264.38. 5,909,834 shares of the stock were exchanged, compared to its average volume of 9,538,263. The company has a 50 day moving average price of $246.48 and a 200-day moving average price of $249.49. The stock has a market cap of $734.74 billion, a P/E ratio of 13.39, a PEG ratio of 2.83 and a beta of 1.08. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. 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. (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, topping the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $4.44 earnings per share. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the sale, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at approximately $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 ninety days, insiders have sold 95,594 shares of company stock valued at $23,991,061. 0.47% of the stock is currently owned by insiders.

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.