JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Tufton Capital Management

Key Points

• Tufton Capital Management reduced its stake in JPMorgan Chase & Co. by 4.2%, now owning 76,645 shares valued at approximately $18.8 million, making it the firm’s third-largest holding.
• Equities analysts have set a consensus price target of $288.68 for JPMorgan Chase & Co. shares, with 13 analysts rating it a buy.
• The company's recent earnings surpassed expectations, reporting an EPS of $4.96 against a consensus of $4.48, despite a 10.5% decline in revenue year-over-year.

Tufton Capital Management trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,645 shares of the financial services provider's stock after selling 3,385 shares during the period. JPMorgan Chase & Co. accounts for about 3.6% of Tufton Capital Management's holdings, making the stock its 3rd largest holding. Tufton Capital Management's holdings in JPMorgan Chase & Co. were worth $18,801,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. GAMMA Investing LLC increased its position in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Northern Trust Corp increased its position in JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in JPMorgan Chase & Co. by 31.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after acquiring an additional 2,551,899 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in JPMorgan Chase & Co. by 16.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after acquiring an additional 2,465,572 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. This represents a 3.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on JPM. Bank of America boosted their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, June 30th. Piper Sandler reiterated an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Finally, HSBC reiterated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Trading Down 2.4%

Shares of JPMorgan Chase & Co. stock traded down $7.03 during trading hours on Friday, reaching $289.21. 12,005,470 shares of the company's stock were exchanged, compared to its average volume of 8,727,902. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $301.29. The firm has a market capitalization of $803.74 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.00 and a beta of 1.11. The company has a fifty day moving average of $280.47 and a 200-day moving average of $261.28. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

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 return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter in the prior year, the company posted $6.12 EPS. The business's revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

JPMorgan Chase & Co. Company 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.