Sarasin & Partners LLP Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Sarasin & Partners LLP lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 22.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,074,487 shares of the financial services provider's stock after selling 310,476 shares during the period. JPMorgan Chase & Co. makes up about 2.8% of Sarasin & Partners LLP's portfolio, making the stock its 12th largest holding. Sarasin & Partners LLP's holdings in JPMorgan Chase & Co. were worth $263,572,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in JPM. Norges Bank bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. GAMMA Investing LLC grew its position in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Northern Trust Corp raised its stake in 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 worth $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. Proficio Capital Partners LLC increased its position in JPMorgan Chase & Co. by 34,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock worth $838,865,000 after purchasing an additional 3,489,314 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after buying an additional 2,551,899 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer now owns 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. This represents a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,722 shares of company stock valued at $25,599,477. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Down 1.3%

JPMorgan Chase & Co. stock traded down $3.43 during midday trading on Friday, hitting $264.81. 4,239,637 shares of the stock were exchanged, compared to its average volume of 9,507,794. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The business's 50-day moving average price is $251.13 and its 200-day moving average price is $250.46. The stock has a market capitalization of $735.93 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. The company 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 20.96% and a return on equity of 16.99%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.44 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.11%. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Analyst Ratings Changes

JPM has been the subject of a number of research reports. KGI Securities began coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating for the company. Truist Financial lifted their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. Bank of America lowered their price objective on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Finally, Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company 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.