Pinnacle Financial Partners Inc Sells 7,478 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Pinnacle Financial Partners Inc trimmed its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 613,725 shares of the financial services provider's stock after selling 7,478 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 3.0% of Pinnacle Financial Partners Inc's holdings, making the stock its 6th biggest holding. Pinnacle Financial Partners Inc's holdings in JPMorgan Chase & Co. were worth $148,960,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares during the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of JPMorgan Chase & Co. by 1.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock valued at $5,115,000 after buying an additional 255 shares during the period. Bank Pictet & Cie Europe AG grew its stake in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE grew its stake in JPMorgan Chase & Co. by 16.1% in the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after purchasing an additional 1,893 shares during the last quarter. Finally, KKM Financial LLC boosted its holdings in JPMorgan Chase & Co. by 3.9% in the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock worth $4,040,000 after acquiring an additional 640 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, 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 completion of the transaction, the chief financial officer directly owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.1%

Shares of JPMorgan Chase & Co. stock traded up $0.16 during trading on Wednesday, reaching $282.94. The company's stock had a trading volume of 11,269,934 shares, compared to its average volume of 10,297,434. The firm's 50-day moving average is $268.71 and its two-hundred day moving average is $255.45. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market cap of $786.32 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.71 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm 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 firm posted $4.44 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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 paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday. TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday. Finally, Bank of America increased their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $280.45.

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.