JPMorgan Chase & Co. (NYSE:JPM) is Xcel Wealth Management LLC's 8th Largest Position

Xcel Wealth Management LLC cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,316 shares of the financial services provider's stock after selling 8,867 shares during the period. JPMorgan Chase & Co. accounts for approximately 3.3% of Xcel Wealth Management LLC's portfolio, making the stock its 8th largest holding. Xcel Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $10,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meritage Portfolio Management boosted its holdings in shares of JPMorgan Chase & Co. by 11.1% in the 1st quarter. Meritage Portfolio Management now owns 60,006 shares of the financial services provider's stock worth $14,719,000 after purchasing an additional 6,007 shares in the last quarter. Clark Asset Management LLC lifted its position in JPMorgan Chase & Co. by 44.1% in the 1st quarter. Clark Asset Management LLC now owns 2,540 shares of the financial services provider's stock worth $623,000 after buying an additional 777 shares during the last quarter. Capital Investment Counsel Inc lifted its position in JPMorgan Chase & Co. by 3.4% in the 1st quarter. Capital Investment Counsel Inc now owns 5,804 shares of the financial services provider's stock worth $1,424,000 after buying an additional 190 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in JPMorgan Chase & Co. by 4.0% in the first quarter. First Horizon Advisors Inc. now owns 246,210 shares of the financial services provider's stock worth $60,396,000 after buying an additional 9,402 shares in the last quarter. Finally, Revisor Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the first quarter valued at approximately $605,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock traded up $4.98 during trading hours on Thursday, reaching $288.14. 8,404,198 shares of the stock traded hands, compared to its average volume of 9,562,078. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The firm has a market capitalization of $800.76 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 2.62 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average price of $269.48 and a 200 day moving average price of $255.64.

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 (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period in the previous year, the business posted $4.44 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 yield of 1.94%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares in the company, valued at $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 over the last ninety days. 0.47% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. KGI Securities started coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating on the stock. Truist Financial increased their target price on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday. Finally, UBS Group lifted their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $280.45.

JPMorgan Chase & Co. 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.