Mackenzie Financial Corp Sells 182,180 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Mackenzie Financial Corp reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,646,963 shares of the financial services provider's stock after selling 182,180 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.8% of Mackenzie Financial Corp's holdings, making the stock its 28th largest position. Mackenzie Financial Corp owned about 0.09% of JPMorgan Chase & Co. worth $634,504,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Redwood Park Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 1.7%

Shares of JPM traded up $4.41 during mid-day trading on Tuesday, hitting $265.12. 7,497,238 shares of the company's stock were exchanged, compared to its average volume of 10,732,358. The company has a 50-day simple moving average of $244.31 and a 200 day simple moving average of $248.58. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company has a market cap of $736.79 billion, a PE ratio of 13.43, a P/E/G ratio of 2.83 and a beta of 1.07.

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 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the business earned $4.44 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on JPM shares. Piper Sandler reaffirmed an "overweight" rating and set a $295.00 price objective (up from $260.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. KGI Securities began coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating for the company. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective on the stock. Finally, Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $266.65.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares of the company's stock, valued at approximately $12,130,438.84. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction dated 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 now directly owns 18,017 shares of the company's stock, 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. Insiders sold a total of 95,594 shares of company stock worth $23,991,061 over the last three months. 0.47% of the stock is owned by company insiders.

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.