Bridges Investment Management Inc. Sells 8,505 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Bridges Investment Management Inc. cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 531,888 shares of the financial services provider’s stock after selling 8,505 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.9% of Bridges Investment Management Inc.’s portfolio, making the stock its 15th biggest position. Bridges Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $130,472,000 as of its most recent filing with the Securities & Exchange Commission.

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

JPMorgan Chase & Co. Stock Down 0.8%

JPM stock opened at $286.39 on Wednesday. The stock has a market capitalization of $795.90 billion, a P/E ratio of 14.06, a P/E/G ratio of 2.64 and a beta of 1.10. The firm has a 50-day simple moving average of $272.45 and a 200-day simple moving average of $257.02. 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:JPM) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.12 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. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 annualized dividend and a yield of 1.96%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on JPM shares. HSBC reaffirmed a “reduce” rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Piper Sandler reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Finally, Royal Bank Of Canada set a $305.00 price objective on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, June 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $284.42.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the transaction, the general counsel owned 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by insiders.

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.