Jmac Enterprises LLC Reduces Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Jmac Enterprises LLC lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 59.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,291 shares of the financial services provider’s stock after selling 12,072 shares during the period. Jmac Enterprises LLC’s holdings in JPMorgan Chase & Co. were worth $2,034,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of JPM. Flagship Harbor Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 48,980 shares of the financial services provider’s stock valued at $12,015,000 after buying an additional 311 shares in the last quarter. Friday Financial lifted its position in JPMorgan Chase & Co. by 112.9% during the 1st quarter. Friday Financial now owns 1,895 shares of the financial services provider’s stock valued at $466,000 after acquiring an additional 1,005 shares during the period. Duncker Streett & Co. Inc. boosted its stake in JPMorgan Chase & Co. by 1.0% during the first quarter. Duncker Streett & Co. Inc. now owns 44,984 shares of the financial services provider’s stock worth $11,034,000 after acquiring an additional 466 shares in the last quarter. Ridgecrest Wealth Partners LLC grew its holdings in JPMorgan Chase & Co. by 6.8% in the first quarter. Ridgecrest Wealth Partners LLC now owns 7,854 shares of the financial services provider’s stock worth $1,927,000 after purchasing an additional 497 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in JPMorgan Chase & Co. by 4.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 621,666 shares of the financial services provider’s stock worth $152,495,000 after purchasing an additional 24,695 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $284.14 on Thursday. The firm’s 50-day moving average price is $259.29 and its 200-day moving average price is $252.14. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $285.22. The company has a market cap of $789.65 billion, a PE ratio of 13.95, a PEG ratio of 2.63 and a beta of 1.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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 net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the firm earned $4.44 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JPM shares. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective for the company. Evercore ISI dropped their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Finally, Bank of America increased their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $271.90.

Insider Transactions at JPMorgan Chase & Co.

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 transaction of $1,755,811.68. Following the completion of the sale, the general counsel now directly owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer now owns 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 in the last ninety days. 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.