Nottingham Advisors Inc. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Nottingham Advisors Inc. reduced its stake in JPMorgan Chase & Co. by 37.1%, holding 1,941 shares valued at $476,000 at the end of the first quarter.
• JPMorgan Chase reported earnings per share of $4.96 for the last quarter, exceeding estimates by $0.48, but its revenue decreased by 10.5% compared to the previous year.
• The stock is currently rated as a Moderate Buy with analysts predicting a target price of $288.68, while insider activity showed multiple sales of shares in recent months.

Nottingham Advisors Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 37.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,941 shares of the financial services provider's stock after selling 1,144 shares during the quarter. Nottingham Advisors Inc.'s holdings in JPMorgan Chase & Co. were worth $476,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $28,000. Redwood Park Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter valued at about $33,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $37,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $44,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of several recent analyst reports. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, July 16th. Truist Financial raised their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Bank of America raised their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, KGI Securities initiated coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating for the company. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Down 2.4%

JPM stock opened at $289.21 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $301.29. The company has a fifty day simple moving average of $281.04 and a 200 day simple moving average of $261.69. The firm has a market cap of $803.74 billion, a PE ratio of 14.84, a PEG ratio of 1.94 and a beta of 1.11.

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

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed 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 currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 over the last ninety days. Corporate 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.

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