Rockland Trust Co. Lowers Stake in JPMorgan Chase & Co. (NYSE:JPM)

Rockland Trust Co. reduced its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 14.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 138,171 shares of the financial services provider's stock after selling 22,523 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.7% of Rockland Trust Co.'s portfolio, making the stock its 19th largest holding. Rockland Trust Co.'s holdings in JPMorgan Chase & Co. were worth $33,893,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in JPM. Capital & Planning LLC boosted its position in shares of JPMorgan Chase & Co. by 13.3% in the fourth quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider's stock valued at $565,000 after acquiring an additional 276 shares during the period. Brighton Jones LLC lifted its stake in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after purchasing an additional 4,841 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $66,088,000. Tectonic Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 4.4% in the 4th quarter. Tectonic Advisors LLC now owns 5,197 shares of the financial services provider's stock valued at $1,246,000 after purchasing an additional 218 shares during the period. Finally, Choreo LLC grew its position in shares of JPMorgan Chase & Co. by 5.7% during the 4th quarter. Choreo LLC now owns 175,435 shares of the financial services provider's stock valued at $42,012,000 after purchasing an additional 9,409 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. 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 now directly owns 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Price Performance

JPM stock traded down $3.52 during trading on Friday, hitting $264.72. 7,095,259 shares of the company's stock traded hands, compared to its average volume of 9,522,387. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $280.25. The stock has a market capitalization of $735.69 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 2.83 and a beta of 1.08. The business has a fifty day simple moving average of $252.10 and a 200 day simple moving average of $250.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the previous year, the firm posted $4.44 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating for the company. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $269.65.

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.