Checchi Capital Advisers LLC Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Checchi Capital Advisers LLC trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 1st quarter, Holdings Channel reports. The fund owned 34,557 shares of the financial services provider’s stock after selling 229 shares during the period. Checchi Capital Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $8,477,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of JPM. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $29,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

JPM has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating and set a $327.00 price target on the stock in a research report on Wednesday. Hsbc Global Res cut JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research note on Tuesday. Robert W. Baird cut JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a research note on Friday, June 27th. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research note on Monday. Finally, Truist Financial upped their price objective on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $280.45.

Insider Transactions at JPMorgan Chase & Co.

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares in the company, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the transaction, the general counsel owned 68,757 shares of the company’s stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Trading Up 0.1%

JPMorgan Chase & Co. stock opened at $282.94 on Thursday. 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. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a market capitalization of $786.32 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. The stock has a 50-day moving average price of $269.48 and a 200 day moving average price of $255.64.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping 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 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 previous year, the company posted $4.44 earnings per share. The company’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 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.