Sovran Advisors LLC Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sovran Advisors LLC lessened its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 33.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,579 shares of the financial services provider's stock after selling 3,323 shares during the quarter. Sovran Advisors LLC's holdings in JPMorgan Chase & Co. were worth $1,526,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of JPM. Brighton Jones LLC raised its position 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 valued at $11,682,000 after purchasing an additional 4,841 shares during the last quarter. SOA Wealth Advisors LLC. raised its position in JPMorgan Chase & Co. by 1.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock valued at $5,115,000 after purchasing an additional 255 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after purchasing an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE raised its position in JPMorgan Chase & Co. by 16.1% in the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after purchasing an additional 1,893 shares during the last quarter. Finally, Quartz Partners LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $224,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded up $4.13 during trading hours on Friday, reaching $296.13. The company had a trading volume of 6,541,646 shares, compared to its average volume of 9,527,821. The firm has a 50 day simple moving average of $266.97 and a 200-day simple moving average of $254.56. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $822.96 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.75 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $4.44 EPS. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued 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 1.89%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction dated 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 transaction, the director owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup reiterated a "neutral" rating and issued a $275.00 price target (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 25th. Morgan Stanley upped their price objective on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Wells Fargo & Company upped their price objective on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $277.74.

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.