JPMorgan Chase & Co. (NYSE:JPM) is Stone Summit Wealth LLC’s 5th Largest Position

Stone Summit Wealth LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,767 shares of the financial services provider’s stock after selling 334 shares during the quarter. JPMorgan Chase & Co. accounts for 2.6% of Stone Summit Wealth LLC’s portfolio, making the stock its 5th largest position. Stone Summit Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $7,547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after buying an additional 38 shares in the last quarter. Hurlow Wealth Management Group Inc. raised its position in JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock worth $1,328,000 after acquiring an additional 40 shares in the last quarter. Wimmer Associates 1 LLC lifted its holdings in JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock valued at $986,000 after acquiring an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock valued at $3,340,000 after purchasing an additional 40 shares in the last quarter. Finally, Rockbridge Investment Management LCC boosted its position in shares of JPMorgan Chase & Co. by 2.3% during the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 41 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on JPM. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 10th. Finally, Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $273.15.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer owned 68,583 shares in the company, valued at $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction dated 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 sale, the general counsel directly owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.2%

NYSE:JPM opened at $290.43 on Wednesday. The stock has a market cap of $807.13 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $292.65. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50-day moving average is $263.87 and its two-hundred day moving average is $253.51.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS 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 the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.44 earnings per share. As a group, equities research analysts forecast 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. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.