Xcel Wealth Management LLC Has $10.63 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Xcel Wealth Management LLC decreased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 17.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,316 shares of the financial services provider's stock after selling 8,867 shares during the quarter. JPMorgan Chase & Co. makes up 3.3% of Xcel Wealth Management LLC's portfolio, making the stock its 8th biggest position. Xcel Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $10,625,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $29,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter valued at $33,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.1%

JPM stock opened at $282.94 on Thursday. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. 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 stock has a market cap of $786.32 billion, a P/E ratio of 13.89, a PEG ratio of 2.62 and a beta of 1.10. The business's 50-day moving average price is $269.48 and its 200-day moving average price is $255.64.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $43.62 billion. During the same period in the previous year, the firm earned $4.44 EPS. The business's quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.98%. JPMorgan Chase & Co.'s dividend payout ratio is presently 27.49%.

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was 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 approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on JPM shares. Truist Financial raised their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday. Wells Fargo & Company restated an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Monday. Baird R W downgraded JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. Finally, KGI Securities began coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a "hold" rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $280.45.

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.

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