Absher Wealth Management LLC Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Absher Wealth Management LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 117,847 shares of the financial services provider's stock after acquiring an additional 2,057 shares during the period. JPMorgan Chase & Co. comprises about 3.8% of Absher Wealth Management LLC's investment portfolio, making the stock its 10th largest position. Absher Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $28,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of JPM. Geode Capital Management LLC increased 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 valued at $14,161,171,000 after buying an additional 876,417 shares in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $8,310,884,000. Northern Trust Corp increased its stake in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the first 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 in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock valued at $5,475,223,000 after buying an additional 1,914,049 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of research reports. Royal Bank Of Canada restated a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price target on the stock. in a report on Friday. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an "equal weight" rating in a report on Monday, June 23rd. Truist Financial raised their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a report on Monday, June 2nd. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $273.15.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPMorgan Chase & Co. stock traded down $1.45 during trading on Friday, hitting $287.31. 17,851,223 shares of the company were exchanged, compared to its average volume of 9,513,055. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $289.41. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $798.45 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 2.67 and a beta of 1.08. The firm's fifty day moving average price is $261.55 and its 200 day moving average price is $252.82.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter in the previous year, the business posted $4.44 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share 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 dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, the general counsel now owns 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. 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 transaction, the chief operating officer now owns 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 in the last 90 days. Corporate insiders own 0.47% of the company's stock.

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.