JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Royal Harbor Partners LLC

Royal Harbor Partners LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,592 shares of the financial services provider's stock after selling 1,267 shares during the quarter. JPMorgan Chase & Co. makes up 1.3% of Royal Harbor Partners LLC's investment portfolio, making the stock its 22nd largest position. Royal Harbor Partners LLC's holdings in JPMorgan Chase & Co. were worth $3,334,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $8,310,884,000. Northern Trust Corp boosted its stake in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of JPMorgan Chase & Co. by 25,861.9% during 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 purchasing an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of JPMorgan Chase & Co. by 9.1% during 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 purchasing an additional 1,914,049 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a "hold" rating on the stock. Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday. HSBC reaffirmed a "reduce" rating and set a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Morgan Stanley set a $240.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of "Hold" and a consensus target price of $284.42.

JPMorgan Chase & Co. Stock Down 0.5%

JPM traded down $1.41 during trading hours on Friday, reaching $286.78. 7,378,197 shares of the stock traded hands, compared to its average volume of 9,530,369. The firm's fifty day simple moving average is $270.98 and its two-hundred day simple moving average is $256.39. The company has a market cap of $796.99 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 2.62 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business's revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $4.44 EPS. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on 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 completion of the sale, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. 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 90 days. Company insiders own 0.47% of the company's stock.

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.