Legacy CG LLC Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

Legacy CG LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,470 shares of the financial services provider's stock after selling 1,040 shares during the quarter. JPMorgan Chase & Co. accounts for 1.8% of Legacy CG LLC's holdings, making the stock its 23rd largest holding. Legacy CG LLC's holdings in JPMorgan Chase & Co. were worth $5,512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Redwood Park Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at $33,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $37,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of 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. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 over the last quarter. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.5%

NYSE:JPM opened at $291.85 on Thursday. The stock has a 50-day simple moving average of $264.89 and a 200-day simple moving average of $253.77. The stock has a market cap of $811.08 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.70 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $292.82. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89.

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 (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.44 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JPM. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 10th. Bank of America boosted their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Monday, June 23rd. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $275.80.

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.

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