Sitrin Capital Management LLC Sells 7,245 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sitrin Capital Management LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 19.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,722 shares of the financial services provider's stock after selling 7,245 shares during the period. JPMorgan Chase & Co. makes up approximately 3.9% of Sitrin Capital Management LLC's portfolio, making the stock its 7th biggest holding. Sitrin Capital Management LLC's holdings in JPMorgan Chase & Co. were worth $7,291,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Blue Bell Private Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock worth $622,000 after buying an additional 38 shares during the period. Hurlow Wealth Management Group Inc. lifted its position in JPMorgan Chase & Co. by 0.7% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider's stock worth $1,328,000 after buying an additional 40 shares during the period. Wimmer Associates 1 LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares during the period. Twin Lakes Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 0.3% in the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock valued at $3,340,000 after purchasing an additional 40 shares in the last quarter. Finally, Rockbridge Investment Management LCC lifted its stake in shares of JPMorgan Chase & Co. by 2.3% in the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock valued at $441,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research analyst reports. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research note on Monday. Piper Sandler reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Wells Fargo & Company reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Monday. Finally, Morgan Stanley set a $240.00 price objective on JPMorgan Chase & Co. and gave the company an "equal weight" rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $280.45.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $282.94 on Thursday. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $296.40. The business has a 50 day moving average price of $269.48 and a two-hundred day moving average price of $255.64. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a market cap of $786.32 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10.

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, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter last year, the firm earned $4.44 EPS. JPMorgan Chase & Co.'s quarterly revenue was up 8.0% on a year-over-year basis. Sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 dividend on an annualized basis and a yield of 1.98%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This trade 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, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 in the last quarter. Company insiders own 0.47% of the company's stock.

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.

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