Lane & Associates LLC Sells 51 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Lane & Associates LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,640 shares of the financial services provider’s stock after selling 51 shares during the period. Lane & Associates LLC’s holdings in JPMorgan Chase & Co. were worth $648,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Austin Wealth Management LLC grew its holdings in JPMorgan Chase & Co. by 17.4% in the 1st quarter. Austin Wealth Management LLC now owns 1,276 shares of the financial services provider’s stock valued at $312,000 after buying an additional 189 shares during the last quarter. Gateway Wealth Partners LLC grew its position in JPMorgan Chase & Co. by 6.6% during the first quarter. Gateway Wealth Partners LLC now owns 5,333 shares of the financial services provider’s stock worth $1,308,000 after buying an additional 330 shares in the last quarter. Chapman Investment Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 0.6% during the 1st quarter. Chapman Investment Management LLC now owns 13,121 shares of the financial services provider’s stock worth $3,219,000 after purchasing an additional 74 shares in the last quarter. Diversify Wealth Management LLC lifted its position in JPMorgan Chase & Co. by 18.3% in the first quarter. Diversify Wealth Management LLC now owns 28,621 shares of the financial services provider’s stock worth $7,001,000 after purchasing an additional 4,422 shares during the period. Finally, Fonville Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter worth $204,000. 71.55% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JPM. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a research note on Wednesday, July 9th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. Bank of America lifted their price target on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $288.68.

JPMorgan Chase & Co. Stock Up 1.4%

Shares of JPM stock opened at $289.89 on Friday. The firm has a fifty day moving average of $273.91 and a 200-day moving average of $257.56. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $805.64 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 2.59 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the firm posted $6.12 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, 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 value of $10,034,310.78. Following the completion of the transaction, the chief financial officer owned 18,017 shares of the company’s stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction 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 sale, the director owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock worth $18,060,015 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.

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.