Goelzer Investment Management Inc. Decreases Position in JPMorgan Chase & Co. (NYSE:JPM)

Goelzer Investment Management Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,645 shares of the financial services provider’s stock after selling 540 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.7% of Goelzer Investment Management Inc.’s portfolio, making the stock its 22nd biggest holding. Goelzer Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $12,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% during the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after buying an additional 4,841 shares during the period. SOA Wealth Advisors LLC. increased its stake in JPMorgan Chase & Co. by 1.2% during the fourth quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider’s stock worth $5,115,000 after acquiring an additional 255 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in JPMorgan Chase & Co. by 0.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider’s stock worth $46,068,000 after acquiring an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE increased its stake in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider’s stock worth $3,266,000 after acquiring an additional 1,893 shares during the last quarter. Finally, KKM Financial LLC increased its stake in JPMorgan Chase & Co. by 3.9% during the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider’s stock worth $4,040,000 after acquiring an additional 640 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of several research analyst reports. Truist Financial upped their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a research note on Wednesday. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target for the company. in a research note on Friday, June 27th. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a “buy” rating in a research note on Monday. Finally, Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $280.45.

JPMorgan Chase & Co. Stock Up 0.1%

NYSE JPM opened at $282.94 on Thursday. The firm has a market cap of $786.32 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The stock’s 50 day simple moving average is $269.48 and its 200 day simple moving average is $255.64. 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 released its quarterly 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. The business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $4.44 EPS. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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 paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. 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 owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the sale, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,200 shares of company stock worth $18,060,015. Company 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.