NovaPoint Capital LLC Sells 112 Shares of JPMorgan Chase & Co. (NYSE:JPM)

NovaPoint Capital LLC lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.0% in the first quarter, Holdings Channel.com reports. The fund owned 2,110 shares of the financial services provider’s stock after selling 112 shares during the period. NovaPoint Capital LLC’s holdings in JPMorgan Chase & Co. were worth $518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $29,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth $33,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $37,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $43,000. Institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares of the company’s stock, valued at approximately $17,197,873.08. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction dated Tuesday, May 6th. The shares were 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 directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. 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 ninety days. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.4%

JPMorgan Chase & Co. stock opened at $291.95 on Tuesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The stock has a market capitalization of $811.36 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. The business’s fifty day moving average is $267.94 and its 200 day moving average is $255.26.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate 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 company had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period last year, the firm posted $4.44 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on JPM shares. Truist Financial upped their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a research note on Monday, June 2nd. Piper Sandler reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Bank of America upped their price target on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, June 30th. Finally, Baird R W cut JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $277.74.

About JPMorgan Chase & Co.

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.