LaFleur & Godfrey LLC Sells 4,540 Shares of JPMorgan Chase & Co. $JPM

Key Points

• LaFleur & Godfrey LLC trimmed its JPMorgan Chase stake by 3.4% in the fourth quarter, selling 4,540 shares and leaving it with 127,637 shares worth about $41.1 million. JPM remains the firm’s second-largest holding at roughly 5% of its portfolio.
• JPMorgan reported better-than-expected quarterly results, posting EPS of $5.94 versus estimates of $5.50 and revenue of $50.54 billion versus $48.30 billion expected. The bank also raised its annual dividend to $6.00 per share, yielding about 2.0%.
• Insiders have been selling shares, including CFO Jeremy Barnum and CEO Troy L. Rohrbaugh, with about 79,849 shares sold over the last quarter. Meanwhile, Wall Street sentiment remains constructive, with a consensus rating of Moderate Buy and an average price target of $338.12.

LaFleur & Godfrey LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,637 shares of the financial services provider's stock after selling 4,540 shares during the period. JPMorgan Chase & Co. makes up about 5.0% of LaFleur & Godfrey LLC's holdings, making the stock its 2nd biggest position. LaFleur & Godfrey LLC's holdings in JPMorgan Chase & Co. were worth $41,127,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $32,000. Turning Point Benefit Group Inc. acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $35,000. Cresta Advisors Ltd. acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $48,000. Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $52,000. Finally, Collier Financial acquired a new position in JPMorgan Chase & Co. during the 3rd quarter worth approximately $60,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 3,022 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the sale, the chief financial officer owned 32,438 shares in the company, valued at $10,036,641.58. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Troy L. Rohrbaugh sold 50,000 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $307.11, for a total value of $15,355,500.00. Following the completion of the sale, the chief executive officer owned 111,279 shares in the company, valued at approximately $34,174,893.69. This represents a 31.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 79,849 shares of company stock worth $24,522,956. 0.41% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

JPM opened at $297.93 on Friday. The stock has a market cap of $798.31 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 1.03. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.86 and a quick ratio of 0.86. The stock's 50 day simple moving average is $299.67 and its 200 day simple moving average is $307.32. JPMorgan Chase & Co. has a 1-year low of $256.00 and a 1-year high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts' consensus estimates of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to analysts' expectations of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The company's revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.07 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 22.42 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a $1.50 dividend. The ex-dividend date was Monday, April 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.74%.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorganChase declared dividends on its Series II, OO and PP preferred stock, signaling continued capital return and financial stability. JPMorganChase Declares Preferred Stock Dividends
• Positive Sentiment: Reuters reported that JPMorgan’s long-running push into early-stage tech banking is paying off, with the firm now leading global technology investment banking and winning business from startup clients early in their growth cycle. JPMorgan's bet on early-stage companies pays off in leading global tech investment banking
• Positive Sentiment: Chase continued expanding its branch network, opening 18 new branches in May as part of a multibillion-dollar expansion, which supports deposit gathering and retail growth over time. Chase Opens 18 Branches in May Amid Multibillion-Dollar Expansion

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Evercore boosted their target price on JPMorgan Chase & Co. from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. DZ Bank reiterated a "neutral" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Royal Bank Of Canada reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Monday, May 4th. Truist Financial boosted their target price on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a "hold" rating in a research report on Wednesday, April 15th. Finally, Argus boosted their target price on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $338.12.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co NYSE: JPM is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm's principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.