Axxcess Wealth Management LLC Sells 11,330 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Axxcess Wealth Management LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 7.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 136,228 shares of the financial services provider’s stock after selling 11,330 shares during the period. JPMorgan Chase & Co. makes up approximately 0.9% of Axxcess Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. Axxcess Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $33,417,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC grew its position in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after acquiring an additional 876,417 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $8,310,884,000. Northern Trust Corp grew its position 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 acquiring an additional 4,515,147 shares during the last quarter. Bank of New York Mellon Corp grew its position in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider’s stock valued at $6,083,723,000 after acquiring an additional 454,226 shares during the last quarter. Finally, GAMMA Investing LLC grew its position 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 acquiring an additional 23,465,278 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. 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 transaction, the general counsel owned 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Down 0.8%

Shares of JPM opened at $286.39 on Wednesday. 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. has a 12 month low of $190.90 and a 12 month high of $296.40. The stock’s 50 day moving average is $272.45 and its two-hundred day moving average is $257.02. The firm has a market cap of $795.90 billion, a P/E ratio of 14.06, a PEG ratio of 2.64 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating the consensus estimate of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. JPMorgan Chase & Co.’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company earned $6.12 earnings per share. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.96%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

JPM has been the topic of a number of recent research reports. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a “buy” rating in a research report on Monday, July 7th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Friday, June 27th. Finally, KGI Securities initiated coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $284.42.

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.