Buck Wealth Strategies LLC Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Buck Wealth Strategies LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 40,542 shares of the financial services provider’s stock after selling 744 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of Buck Wealth Strategies LLC’s investment portfolio, making the stock its 20th biggest holding. Buck Wealth Strategies LLC’s holdings in JPMorgan Chase & Co. were worth $9,945,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in JPM. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

JPM has been the subject of several analyst reports. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Finally, UBS Group boosted their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $271.90.

JPMorgan Chase & Co. Stock Up 1.0%

JPM stock opened at $281.18 on Wednesday. The company has a fifty day moving average price of $258.21 and a 200 day moving average price of $251.92. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $282.72. The company has a market cap of $781.42 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 2.59 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 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 firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the firm earned $4.44 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.99%. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 18,017 shares in the company, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 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 $1,755,811.68. Following the transaction, the general counsel now owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by insiders.

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.