Primecap Management Co. CA Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

Primecap Management Co. CA lessened its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,048,380 shares of the financial services provider's stock after selling 271,070 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.0% of Primecap Management Co. CA's holdings, making the stock its 29th biggest position. Primecap Management Co. CA owned approximately 0.18% of JPMorgan Chase & Co. worth $1,238,368,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after acquiring an additional 454,226 shares during the last quarter. GAMMA Investing LLC raised its holdings in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Capital Research Global Investors raised its holdings in JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in JPMorgan Chase & Co. by 2.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after acquiring an additional 548,853 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective for the company. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Finally, Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares of the company's stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 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 sold a total of 15,557 shares of company stock worth $4,113,796 in the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Trading Up 1.1%

Shares of JPM traded up $3.07 during midday trading on Tuesday, hitting $292.63. The stock had a trading volume of 8,570,252 shares, compared to its average volume of 9,987,106. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88. The stock's 50 day moving average is $284.24 and its 200 day moving average is $262.86. The firm has a market cap of $804.66 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $6.12 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is 28.73%.

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.