Matrix Asset Advisors Inc. NY Trims Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

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

Several other institutional investors also recently modified their holdings of JPM. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. during the first quarter valued at $33,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Finally, Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.0%

JPM opened at $281.18 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $282.72. The firm has a market capitalization of $781.42 billion, a PE ratio of 13.80, a P/E/G ratio of 2.59 and a beta of 1.08. The company's 50-day moving average is $258.21 and its 200 day moving average is $251.92.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company 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 posted $4.44 EPS. The firm's revenue was up 8.0% compared to the same quarter last year. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.99%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Robert W. Baird upped their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Evercore ISI cut their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Finally, Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $271.90.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction dated 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 sale, the chief operating officer now owns 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer now owns 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 in the last quarter. Insiders own 0.47% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.