White Pine Investment CO Sells 2,185 Shares of JPMorgan Chase & Co. (NYSE:JPM)

White Pine Investment CO trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,131 shares of the financial services provider's stock after selling 2,185 shares during the quarter. JPMorgan Chase & Co. accounts for 2.3% of White Pine Investment CO's holdings, making the stock its 15th largest holding. White Pine Investment CO's holdings in JPMorgan Chase & Co. were worth $8,372,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in JPM. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $33,000. Sellwood Investment Partners LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $34,000. Investment Counsel Co. of Nevada acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. 71.55% of the stock is owned by institutional investors.

Insider Activity

In related 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 completion of the transaction, the director now directly owns 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, the chief financial officer now directly owns 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This trade represents 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 Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Wells Fargo & Company lifted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Evercore ISI cut their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a report on Monday, June 2nd. Finally, Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and a consensus price target of $273.15.

JPMorgan Chase & Co. Trading Down 0.5%

Shares of JPM opened at $287.31 on Monday. The firm's 50-day moving average price is $261.55 and its 200-day moving average price is $252.90. The firm has a market capitalization of $798.45 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 2.67 and a beta of 1.08. 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 1-year low of $190.90 and a 1-year high of $289.41.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.44 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

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.

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