JPMorgan Chase & Co. (NYSE:JPM) is Conning Inc.’s 8th Largest Position

Conning Inc. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 8.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,343 shares of the financial services provider’s stock after selling 13,767 shares during the period. JPMorgan Chase & Co. makes up 1.4% of Conning Inc.’s investment portfolio, making the stock its 8th biggest holding. Conning Inc.’s holdings in JPMorgan Chase & Co. were worth $38,842,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter valued at $33,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Stacey Friedman sold 6,608 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 $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 over the last ninety days. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $282.94 on Thursday. The firm’s 50-day moving average price is $269.48 and its two-hundred day moving average price is $255.64. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The stock has a market capitalization of $786.32 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.62 and a beta of 1.10. 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. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the previous year, the company earned $4.44 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a research report on Monday, June 30th. Citigroup set a $275.00 price objective on shares of JPMorgan Chase & Co. and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company reaffirmed an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Monday. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. Finally, Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $280.45.

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.