Townsend & Associates Inc Sells 5,209 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Townsend & Associates Inc trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 34.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,089 shares of the financial services provider's stock after selling 5,209 shares during the quarter. Townsend & Associates Inc's holdings in JPMorgan Chase & Co. were worth $2,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of JPMorgan Chase & Co. by 1.2% during 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 buying an additional 255 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of JPMorgan Chase & Co. by 0.6% during 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 buying an additional 1,229 shares in the last quarter. Highview Capital Management LLC DE lifted its position in shares of JPMorgan Chase & Co. by 16.1% during 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 buying an additional 1,893 shares in the last quarter. Finally, Sterling Investment Advisors Ltd. boosted its holdings in JPMorgan Chase & Co. by 3.6% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 24,793 shares of the financial services provider's stock worth $5,943,000 after buying an additional 851 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.4%

Shares of NYSE:JPM traded up $4.13 during trading on Friday, reaching $296.13. The company's stock had a trading volume of 6,541,646 shares, compared to its average volume of 9,533,583. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The firm's 50 day simple moving average is $266.97 and its two-hundred day simple moving average is $254.73. The stock has a market capitalization of $822.96 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10.

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 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the firm earned $4.44 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Analysts Set New Price Targets

JPM has been the topic of a number of recent analyst reports. Piper Sandler reissued a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Bank of America boosted their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Evercore ISI upped their price target on JPMorgan Chase & Co. from $280.00 to $298.00 and gave the stock an "outperform" rating in a research note on Wednesday. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Monday, June 23rd. Finally, TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $277.74.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 18,017 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the 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 completion of the transaction, the director directly 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 sold a total of 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by insiders.

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.