Beacon Capital Management LLC Cuts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Beacon Capital Management LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,937 shares of the financial services provider’s stock after selling 61 shares during the period. Beacon Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $720,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of JPM. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Curat Global LLC purchased a new stake in shares of JPMorgan Chase & Co. during the first quarter worth about $33,000. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $37,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 0.3%

Shares of JPM stock opened at $274.74 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $763.52 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 2.76 and a beta of 1.08. The stock has a 50 day simple moving average of $256.36 and a 200-day simple moving average of $251.40. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.44 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced 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. This represents a $5.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares of the company’s stock, valued at $12,130,438.84. This represents a 2.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the company’s 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 $749,567.91. Following the transaction, the general counsel now directly owns 68,757 shares of the company’s stock, valued at approximately $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 101,722 shares of company stock valued at $25,599,477 in the last three months. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

JPM has been the subject of a number of research reports. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Robert W. Baird lifted their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, May 20th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. Finally, Baird R W raised JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $271.70.

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.