Means Investment CO. Inc. Sells 17,914 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Means Investment CO. Inc. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 22.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,306 shares of the financial services provider's stock after selling 17,914 shares during the period. JPMorgan Chase & Co. accounts for 1.6% of Means Investment CO. Inc.'s holdings, making the stock its 16th biggest position. Means Investment CO. Inc.'s holdings in JPMorgan Chase & Co. were worth $15,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the fourth quarter worth $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the transaction, the chief operating officer now owns 68,583 shares of the company's stock, valued at $17,197,873.08. This represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the transaction, the general counsel now directly owns 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. 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 in the last ninety days. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Up 0.3%

Shares of JPM stock opened at $274.74 on Monday. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $280.25. The firm's fifty day simple moving average is $256.36 and its 200 day simple moving average is $251.50. The firm has a market capitalization of $763.52 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. 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 issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $43.62 billion. During the same quarter in the previous year, the company earned $4.44 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.04%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analyst Weigh In

A number of brokerages have commented on JPM. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Morgan Stanley reiterated an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Piper Sandler reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective on the stock. Finally, Royal Bank Of Canada reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $271.70.

About JPMorgan Chase & Co.

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.