Summerhill Capital Management lnc. Has $7.58 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Summerhill Capital Management lnc. lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 22.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,903 shares of the financial services provider's stock after selling 9,175 shares during the quarter. JPMorgan Chase & Co. makes up approximately 10.2% of Summerhill Capital Management lnc.'s investment portfolio, making the stock its 2nd largest position. Summerhill Capital Management lnc.'s holdings in JPMorgan Chase & Co. were worth $7,581,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $471,000. Disciplined Investments LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $217,000. LGT Group Foundation raised its holdings in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock worth $126,040,000 after purchasing an additional 14,300 shares during the period. Kinsale Capital Group Inc. lifted its position in shares of 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 buying an additional 4,375 shares during the last quarter. Finally, Jag Capital Management LLC increased its stake in shares of JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock worth $353,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction that occurred 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 sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 over the last ninety days. Corporate insiders own 0.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on JPM shares. Bank of America raised their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Citigroup reaffirmed a "neutral" rating and issued a $275.00 target price (up from $250.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 25th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $273.15.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of NYSE JPM traded down $0.72 on Tuesday, hitting $289.19. The company had a trading volume of 3,855,682 shares, compared to its average volume of 10,262,131. The firm has a market capitalization of $803.67 billion, a P/E ratio of 14.19, a PEG ratio of 2.67 and a beta of 1.08. The business has a 50 day moving average of $262.77 and a two-hundred day moving average of $253.25. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $292.65. 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. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the business posted $4.44 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

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.