LGT Fund Management Co Ltd. Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• LGT Fund Management Co Ltd. reduced its stake in JPMorgan Chase & Co. by 13.6%, selling 5,445 shares, and now holds 34,722 shares valued at approximately $8.5 million.
• Insider sales included COO Jennifer Piepszak selling 6,128 shares, reducing her ownership by 8.94%, and General Counsel Stacey Friedman selling 2,821 shares with a 3.94% decrease in ownership.
• JPMorgan Chase recently declared a quarterly dividend of $1.40 per share, resulting in an annualized yield of 1.9% and a payout ratio of 28.73%.

LGT Fund Management Co Ltd. decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,722 shares of the financial services provider's stock after selling 5,445 shares during the period. LGT Fund Management Co Ltd.'s holdings in JPMorgan Chase & Co. were worth $8,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. Florida Financial Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 62.5% in the 1st quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at approximately $471,000. Crown Wealth Group LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares during the last quarter. Morse Asset Management Inc grew 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 buying an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC grew its stake 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 valued at $677,000 after buying an additional 112 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on JPM shares. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday, June 30th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. TD Cowen started coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Three investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Down 1.3%

JPMorgan Chase & Co. stock traded down $3.68 during mid-day trading on Friday, reaching $290.48. 7,339,238 shares of the company were exchanged, compared to its average volume of 7,940,475. The business has a fifty day moving average of $286.42 and a 200 day moving average of $263.59. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $798.75 billion, a P/E ratio of 14.90, a PEG ratio of 1.93 and a beta of 1.11. JPMorgan Chase & Co. has a 12-month low of $200.61 and a 12-month high of $301.29.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $6.12 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insiders Place Their Bets

In other news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,557 shares of company stock worth $4,113,796. Insiders own 0.47% of the company's stock.

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.