Fagan Associates Inc. Has $15.37 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Fagan Associates Inc. reduced its stake in JPMorgan Chase & Co. by 2.4% during the first quarter, bringing their total shares to 62,654, which represents about 2.6% of their investment portfolio.
• JPMorgan recently declared a quarterly dividend of $1.40 per share, resulting in an annualized dividend of $5.60 and a yield of 1.88%.
• Analysts have mixed ratings for JPMorgan shares, with a consensus rating of "Moderate Buy" and an average price target of $288.68, despite some firms downgrading their ratings.

Fagan Associates Inc. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,654 shares of the financial services provider's stock after selling 1,529 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.6% of Fagan Associates Inc.'s investment portfolio, making the stock its 9th biggest holding. Fagan Associates Inc.'s holdings in JPMorgan Chase & Co. were worth $15,369,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Florida Financial Advisors LLC grew its position in JPMorgan Chase & Co. by 62.5% in the first 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 in the last quarter. Fourth Dimension Wealth LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $471,000. Crown Wealth Group LLC raised its stake in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after acquiring an additional 222 shares during the last quarter. Morse Asset Management Inc raised its stake 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 valued at $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC raised its position in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after acquiring an additional 112 shares during the period. Institutional investors own 71.55% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on JPM. Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 approximately $22,884,750. The trade was a 9.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 1.2%

NYSE:JPM traded down $3.55 during mid-day trading on Thursday, hitting $296.08. The company had a trading volume of 2,076,304 shares, compared to its average volume of 10,027,213. The firm has a market cap of $822.83 billion, a P/E ratio of 15.20, a P/E/G ratio of 2.00 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The business's fifty day moving average is $279.75 and its two-hundred day moving average is $260.92. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the firm earned $6.12 EPS. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.89%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

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.