Fortitude Family Office LLC Trims Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Fortitude Family Office LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,390 shares of the financial services provider’s stock after selling 1,614 shares during the period. JPMorgan Chase & Co. comprises 0.9% of Fortitude Family Office LLC’s portfolio, making the stock its 22nd biggest position. Fortitude Family Office LLC’s holdings in JPMorgan Chase & Co. were worth $2,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $43,000. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. The trade was a 15.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,722 shares of company stock worth $25,599,477 in the last ninety days. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 1.3%

JPM opened at $264.72 on Friday. The firm has a market cap of $735.69 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 2.83 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $280.25. The stock has a fifty day moving average price of $252.10 and a 200-day moving average price of $250.56.

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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the business earned $4.44 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced 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 of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.12%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

Analysts Set New Price Targets

JPM has been the topic of several research reports. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group raised their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective on the stock. Finally, Truist Financial raised their price objective on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $269.65.

JPMorgan Chase & Co. Company 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.