TCP Asset Management LLC Has $532,000 Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

TCP Asset Management LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,171 shares of the financial services provider’s stock after selling 82 shares during the period. TCP Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $532,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after acquiring an additional 876,417 shares during the period. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at approximately $8,310,884,000. Northern Trust Corp lifted its stake in JPMorgan Chase & Co. by 15.4% in the 4th 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. GAMMA Investing LLC lifted its stake in JPMorgan Chase & Co. by 25,861.9% in the 1st 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. Finally, Capital Research Global Investors lifted its stake in JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after purchasing an additional 1,914,049 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on JPM shares. Wells Fargo & Company reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Monday. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a “buy” rating and a $305.00 price objective for the company. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Piper Sandler restated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $277.74.

JPMorgan Chase & Co. Stock Down 1.4%

JPMorgan Chase & Co. stock opened at $291.95 on Tuesday. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The firm has a market capitalization of $811.36 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. The firm’s fifty day moving average price is $267.94 and its two-hundred day moving average price is $255.26. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period last year, the firm earned $4.44 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

Insider Activity

In related news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company’s stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jennifer Piepszak sold 6,129 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer directly 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 disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last ninety days. Company insiders own 0.47% of the company’s stock.

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.