CORDA Investment Management LLC. Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

CORDA Investment Management LLC. decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 6,849 shares of the financial services provider’s stock after selling 657 shares during the quarter. CORDA Investment Management LLC.’s holdings in JPMorgan Chase & Co. were worth $1,680,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $471,000. Crown Wealth Group LLC boosted its stake in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after acquiring an additional 222 shares in the last quarter. Hidden Cove Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 112 shares during the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock worth $4,953,000 after purchasing an additional 1,218 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of JPMorgan Chase & Co. by 11.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after purchasing an additional 1,561 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of a number of research analyst reports. Morgan Stanley set a $240.00 target price on JPMorgan Chase & Co. and gave the company an “equal weight” rating in a research report on Monday, July 7th. Piper Sandler reissued a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a “hold” rating for the company. Finally, Baird R W cut shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $284.42.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the general counsel owned 36,520 shares in the company, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $288.60 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock has a 50 day simple moving average of $271.71 and a 200-day simple moving average of $256.81. The company has a market cap of $802.06 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the company posted $4.44 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 8.0% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

JPMorgan Chase & Co. 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.