TFC Financial Management Inc. Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

TFC Financial Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the first quarter, Holdings Channel reports. The firm owned 6,624 shares of the financial services provider’s stock after selling 79 shares during the period. TFC Financial Management Inc.’s holdings in JPMorgan Chase & Co. were worth $1,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $8,310,884,000. GAMMA Investing LLC boosted its holdings in JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Northern Trust Corp boosted its holdings in JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in JPMorgan Chase & Co. by 34,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after acquiring an additional 3,489,314 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in JPMorgan Chase & Co. by 31.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares of the company’s stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 in the last ninety days. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.2%

Shares of NYSE JPM opened at $290.43 on Wednesday. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $292.65. The company has a market capitalization of $807.13 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.70 and a beta of 1.10. The company has a 50 day simple moving average of $263.87 and a 200-day simple moving average of $253.51. 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 posted its earnings results 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. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. 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 previous year, the business earned $4.44 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on JPM shares. KGI Securities began coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating on the stock. Evercore ISI decreased their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $273.15.

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.