Objective Capital Management LLC Sells 3,693 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Objective Capital Management LLC has reduced its holdings in JPMorgan Chase & Co. by 56% in the first quarter, currently owning 2,897 shares valued at $711,000.
• Several institutional investors increased their stakes in JPMorgan Chase, with Allstate Corp notably growing its holdings by 3,259.6%, purchasing an additional 82,110 shares.
• JPMorgan Chase & Co. reported earnings of $4.96 per share for the last quarter, exceeding analyst estimates, although its revenue declined 10.5% year-over-year, totaling $44.91 billion.

Objective Capital Management LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 56.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,897 shares of the financial services provider's stock after selling 3,693 shares during the quarter. Objective Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Prudent Man Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Finally, Measured Risk Portfolios Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel owned 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. Over the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded down $7.03 during trading hours on Friday, hitting $289.21. The stock had a trading volume of 12,005,470 shares, compared to its average volume of 8,727,902. The stock's fifty day simple moving average is $281.04 and its 200 day simple moving average is $261.57. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $301.29. The firm has a market capitalization of $803.74 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue was down 10.5% on a year-over-year basis. During the same period last year, the firm posted $6.12 earnings per share. Sell-side analysts anticipate 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 was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

Wall Street Analysts Forecast Growth

JPM has been the topic of a number of recent analyst reports. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating on the stock. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. 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.