Townsend & Associates Inc Has $2.31 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Townsend & Associates Inc lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 34.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,089 shares of the financial services provider's stock after selling 5,209 shares during the period. Townsend & Associates Inc's holdings in JPMorgan Chase & Co. were worth $2,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC grew its position in JPMorgan Chase & Co. by 11.0% in the fourth 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 in the last quarter. SOA Wealth Advisors LLC. lifted its stake in JPMorgan Chase & Co. by 1.2% in the fourth quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock valued at $5,115,000 after acquiring an additional 255 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of 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 acquiring an additional 1,229 shares during the period. Highview Capital Management LLC DE grew its position in shares of 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 acquiring an additional 1,893 shares during the period. Finally, Sterling Investment Advisors Ltd. grew its holdings in JPMorgan Chase & Co. by 3.6% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 24,793 shares of the financial services provider's stock worth $5,943,000 after purchasing an additional 851 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Morgan Stanley set a $240.00 price objective on JPMorgan Chase & Co. and gave the stock an "equal weight" rating in a report on Monday. Finally, Truist Financial increased their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research note on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $277.74.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded down $4.05 during midday trading on Monday, reaching $291.95. The company's stock had a trading volume of 8,792,081 shares, compared to its average volume of 9,530,848. The stock has a market cap of $811.36 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. 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 52 week low of $190.90 and a 52 week high of $296.49. The business has a 50-day moving average price of $266.97 and a 200-day moving average price of $254.88.

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. The company had revenue of $45.30 billion during the quarter, compared to analysts' expectations 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 in the prior year, the company earned $4.44 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS 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. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.92%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company's stock.

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.