JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Lifted by Venturi Wealth Management LLC

Key Points

• Venturi Wealth Management LLC significantly increased its holdings in JPMorgan Chase & Co. by 281% in the first quarter, acquiring 50,398 additional shares valued at approximately $16.76 million.
• Insiders at JPMorgan, including Director Linda Bammann and CFO Jeremy Barnum, recently sold shares, with Bammann reducing her stake by 9.40% and Barnum by 68.95%.
• JPMorgan Chase reported earnings per share of $4.96 for the last quarter, surpassing analysts' expectations, but its quarterly revenue declined by 10.5% compared to the same period last year.

Venturi Wealth Management LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 281.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 68,332 shares of the financial services provider's stock after acquiring an additional 50,398 shares during the quarter. JPMorgan Chase & Co. makes up about 0.9% of Venturi Wealth Management LLC's holdings, making the stock its 29th biggest holding. Venturi Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $16,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Florida Financial Advisors LLC boosted its position in JPMorgan Chase & Co. by 62.5% during the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after acquiring an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $471,000. Crown Wealth Group LLC lifted its position in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares in the last quarter. Morse Asset Management Inc boosted its holdings in shares of JPMorgan Chase & Co. by 19.5% during the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after purchasing an additional 420 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $298.22 on Tuesday. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $299.59. The company has a fifty day simple moving average of $278.35 and a 200 day simple moving average of $260.40. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The company has a market cap of $828.78 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.01 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released 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. The company had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $6.12 earnings per share. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.88%. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Analyst Ratings Changes

Several research firms have weighed in on JPM. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research note on Monday, June 30th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, Morgan Stanley upped their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

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.

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