Wealth Effects LLC Sells 1,270 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Wealth Effects LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,281 shares of the financial services provider's stock after selling 1,270 shares during the quarter. JPMorgan Chase & Co. comprises 3.0% of Wealth Effects LLC's holdings, making the stock its 6th biggest position. Wealth Effects LLC's holdings in JPMorgan Chase & Co. were worth $7,183,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $33,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $34,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Morgan Stanley raised their price objective 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. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Piper Sandler reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Wells Fargo & Company raised their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $274.80.

JPMorgan Chase & Co. Price Performance

NYSE:JPM traded up $1.44 during trading hours on Wednesday, hitting $291.85. 8,104,339 shares of the stock were exchanged, compared to its average volume of 9,523,896. The company has a market cap of $811.08 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.70 and a beta of 1.10. The firm's fifty day moving average price is $263.87 and its 200 day moving average price is $253.51. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $293.01. 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. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the previous year, the business earned $4.44 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. 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 transaction, the director directly owned 91,539 shares of the company's stock, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on 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 directly owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company's stock.

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.