Trail Ridge Investment Advisors LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Trail Ridge Investment Advisors LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 8,876 shares of the financial services provider's stock after selling 879 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.1% of Trail Ridge Investment Advisors LLC's holdings, making the stock its 23rd biggest holding. Trail Ridge Investment Advisors LLC's holdings in JPMorgan Chase & Co. were worth $2,177,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Apollon Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 24.3% in the 1st quarter. Apollon Wealth Management LLC now owns 175,076 shares of the financial services provider's stock worth $42,946,000 after acquiring an additional 34,259 shares during the period. Hohimer Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 174.7% in the 1st quarter. Hohimer Wealth Management LLC now owns 23,688 shares of the financial services provider's stock valued at $5,811,000 after buying an additional 15,065 shares during the period. Sigma Planning Corp grew its position in JPMorgan Chase & Co. by 2.4% in the first quarter. Sigma Planning Corp now owns 72,632 shares of the financial services provider's stock worth $17,817,000 after acquiring an additional 1,674 shares in the last quarter. Catalyst Financial Partners LLC grew its position in JPMorgan Chase & Co. by 4.1% in the first quarter. Catalyst Financial Partners LLC now owns 20,070 shares of the financial services provider's stock worth $4,923,000 after acquiring an additional 799 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC grew its position in JPMorgan Chase & Co. by 21.6% in the first quarter. Turtle Creek Wealth Advisors LLC now owns 49,863 shares of the financial services provider's stock worth $12,231,000 after acquiring an additional 8,843 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.9%

NYSE JPM traded up $2.72 during mid-day trading on Thursday, hitting $299.48. The company's stock had a trading volume of 1,815,146 shares, compared to its average volume of 10,139,948. The company's 50 day simple moving average is $276.47 and its 200 day simple moving average is $258.99. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $299.59. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $832.28 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.99 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The company had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the firm earned $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. Analysts anticipate 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 issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the sale, the general counsel owned 36,520 shares of the company's stock, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 6,129 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a "neutral" rating to an "underperform" rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Finally, Bank of America increased their price target on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $288.68.

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.