Smith Salley Wealth Management Trims Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Smith Salley Wealth Management cut its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 12.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,454 shares of the financial services provider's stock after selling 22,863 shares during the period. JPMorgan Chase & Co. accounts for 2.7% of Smith Salley Wealth Management's portfolio, making the stock its 7th largest holding. Smith Salley Wealth Management's holdings in JPMorgan Chase & Co. were worth $40,586,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of JPM. Blue Bell Private Wealth Management LLC lifted its holdings 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 acquiring an additional 38 shares during the period. Hurlow Wealth Management Group Inc. lifted its holdings 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 acquiring an additional 40 shares during the period. Wimmer Associates 1 LLC lifted its holdings in JPMorgan Chase & Co. by 1.0% during the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after acquiring an additional 40 shares during the period. Twin Lakes Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after acquiring an additional 40 shares during the period. Finally, Rockbridge Investment Management LCC lifted its holdings in JPMorgan Chase & Co. by 2.3% during the fourth quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider's stock worth $441,000 after acquiring an additional 41 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 1.4%

Shares of NYSE:JPM traded down $4.05 during trading on Monday, hitting $291.95. The stock had a trading volume of 8,790,826 shares, compared to its average volume of 9,530,609. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.49. The company has a market capitalization of $811.36 billion, a PE ratio of 14.33, a PEG ratio of 2.75 and a beta of 1.10. The firm's fifty day moving average is $266.97 and its 200 day moving average is $254.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate 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 company had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the company earned $4.44 EPS. JPMorgan Chase & Co.'s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.92%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the sale, the chief operating officer directly owned 68,583 shares in the company, valued at $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last three months. 0.47% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on JPM. UBS Group boosted their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Robert W. Baird lowered JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 target price on the stock. in a research note on Friday, June 27th. Piper Sandler reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. 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. Finally, Truist Financial boosted their price objective 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $277.74.

JPMorgan Chase & Co. Company 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.