JPMorgan Chase & Co. (NYSE:JPM) Stake Trimmed by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 10.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,561 shares of the financial services provider's stock after selling 17,245 shares during the quarter. JPMorgan Chase & Co. accounts for about 3.9% of Matrix Asset Advisors Inc. NY's investment portfolio, making the stock its 3rd largest holding. Matrix Asset Advisors Inc. NY's holdings in JPMorgan Chase & Co. were worth $35,461,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in JPM. Capital & Planning LLC lifted its stake in JPMorgan Chase & Co. by 13.3% in the fourth quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider's stock valued at $565,000 after buying an additional 276 shares during the last quarter. Brighton Jones LLC lifted its stake 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 valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $66,088,000. SOA Wealth Advisors LLC. lifted its stake in JPMorgan Chase & Co. by 1.2% in 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 last quarter. Finally, Bank Pictet & Cie Europe AG lifted 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 buying an additional 1,229 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JPM has been the topic of a number of recent research reports. Robert W. Baird cut JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. UBS Group raised their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $273.15.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now owns 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. 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 transaction, the chief operating officer now directly owns 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last three months. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded down $1.45 during mid-day trading on Friday, reaching $287.31. 17,851,223 shares of the stock were exchanged, compared to its average volume of 9,513,055. The business has a fifty day moving average price of $261.55 and a 200 day moving average price of $252.82. The firm has a market capitalization of $798.45 billion, a PE ratio of 14.10, a PEG ratio of 2.67 and a beta of 1.08. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $289.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. JPMorgan Chase & Co.'s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.44 earnings per share. Research analysts expect 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. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

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.