JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Reduced by Spinnaker Trust

Spinnaker Trust lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,438 shares of the financial services provider's stock after selling 6,165 shares during the period. JPMorgan Chase & Co. comprises approximately 1.0% of Spinnaker Trust's holdings, making the stock its 21st largest holding. Spinnaker Trust's holdings in JPMorgan Chase & Co. were worth $15,316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $471,000. Crown Wealth Group LLC boosted its position in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after buying an additional 222 shares during the last quarter. Disciplined Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $217,000. LGT Group Foundation boosted its position in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after buying an additional 14,300 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock worth $677,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction on 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 transaction, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

JPM has been the topic of several research reports. HSBC reissued a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday. Wells Fargo & Company reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Monday. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Morgan Stanley set a $240.00 price objective on JPMorgan Chase & Co. and gave the company an "equal weight" rating in a research report on Monday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average price target of $280.45.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded up $0.12 during midday trading on Wednesday, hitting $282.90. The company had a trading volume of 7,231,308 shares, compared to its average volume of 9,549,488. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month 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. The stock has a market cap of $786.20 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 2.71 and a beta of 1.10. The business's 50-day simple moving average is $268.71 and its 200-day simple moving average is $255.45.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its 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 firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. JPMorgan Chase & Co.'s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $4.44 earnings per share. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

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.