JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,390 shares of the financial services provider’s stock after selling 207 shares during the period. JPMorgan Chase & Co. makes up approximately 1.5% of M.E. Allison & CO. Inc.’s holdings, making the stock its 14th largest holding. M.E. Allison & CO. Inc.’s holdings in JPMorgan Chase & Co. were worth $1,568,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $8,310,884,000. Northern Trust Corp grew its position in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after buying an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in JPMorgan Chase & Co. by 9.1% in the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after acquiring an additional 1,914,049 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.4%

JPM stock opened at $269.35 on Wednesday. The stock has a market cap of $748.55 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 2.74 and a beta of 1.08. The firm’s 50-day simple moving average is $253.87 and its 200 day simple moving average is $250.84. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company posted $4.44 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.08%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Analyst Ratings Changes

Several research analysts have weighed in on JPM shares. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price objective for the company. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Hold” and a consensus target price of $269.65.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 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 $749,567.91. Following the sale, the general counsel now directly owns 68,757 shares in the company, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 4,272 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the transaction, the chief operating officer now owns 50,197 shares in the company, valued at $12,400,164.91. This represents a 7.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,722 shares of company stock valued at $25,599,477. Company insiders own 0.47% of the company’s stock.

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.