SMART Wealth LLC Trims Stake in JPMorgan Chase & Co. (NYSE:JPM)

SMART Wealth LLC reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.6% during the first quarter, HoldingsChannel.com reports. The firm owned 8,171 shares of the financial services provider’s stock after selling 395 shares during the period. SMART Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $2,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.5% during the fourth 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 purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $8,310,884,000. Northern Trust Corp increased its position in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after acquiring an additional 4,515,147 shares during the period. GAMMA Investing LLC increased its holdings in JPMorgan Chase & Co. by 25,861.9% during 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 buying an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors increased its holdings in JPMorgan Chase & Co. by 9.1% during the fourth 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 buying an additional 1,914,049 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on JPM. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating and set a $327.00 target price for the company in a research report on Wednesday. Hsbc Global Res downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “moderate sell” rating in a research report on Tuesday. Finally, Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday, June 30th. Three research 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. Based on data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average target price of $280.45.

Read Our Latest Report on JPM

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,129 shares of the business’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 approximately $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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. Stock Up 1.8%

JPM stock opened at $288.14 on Friday. The stock has a market capitalization of $800.76 billion, a P/E ratio of 14.15, a P/E/G ratio of 2.62 and a beta of 1.10. The firm has a 50-day simple moving average of $270.30 and a 200-day simple moving average of $255.98. 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.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. JPMorgan Chase & Co.’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $4.44 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

About JPMorgan Chase & Co.

(Free Report)

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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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