JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.7% in the second quarter, HoldingsChannel.com reports. The fund owned 17,181 shares of the financial services provider’s stock after selling 2,279 shares during the period. Portside Wealth Group LLC’s holdings in JPMorgan Chase & Co. were worth $3,475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of JPM. Capital International Investors grew its position in JPMorgan Chase & Co. by 1.9% in the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock worth $8,471,687,000 after buying an additional 778,297 shares in the last quarter. Norges Bank acquired a new stake in the shares of JPMorgan Chase & Co. during the fourth quarter worth $6,016,878,000. Capital World Investors increased its position in JPMorgan Chase & Co. by 0.4% in the first quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock worth $6,894,729,000 after buying an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in JPMorgan Chase & Co. by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after purchasing an additional 695,502 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock valued at $3,389,329,000 after purchasing an additional 154,426 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s shares.

The Wall Street analyst weighs in

A number of equities research analysts recently commented on JPM shares. Jefferies Financial Group lifted its price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Citigroup raised its price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. UBS Group raised their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Piper Sandler raised its price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Moderate Buy” and an average price target of $205.71, according to MarketBeat .

Get the latest stock analysis on JPMorgan Chase & Co.

Internal Transactions at JPMorgan Chase & Co.

In related news, insider Lori A. Beer sold 5,298 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the sale, the insider now directly owns 46,375 shares in the company, valued at approximately $9,304,680. The sale was disclosed in a filing with the SEC, which is accessible via this link. In other news, insider Lori A. Beer sold 5,298 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.64, for a total value of $1,062,990.72. Following the completion of the transaction, the insider now directly owns 46,375 shares in the company, valued at $9,304,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure for this sale can be found here. Insiders sold 14,799 shares of company stock worth $2,963,721 in the last quarter. Company insiders own 0.79% of the company’s shares.

Trading JPMorgan Chase & Co. increased by 1.1%

NYSE JPM opened at $213.97 on Friday. The firm has a market cap of $614.45 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.42 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92, and a current ratio of 0.91. JPMorgan Chase & Co. it has a one year low of $135.19 and a one year high of $217.56. The company’s 50-day moving average price is $204.67 and its 200-day moving average price is $195.56.

JPMorgan Chase & Co. (NYSE:JPM – Get Your Free Report ) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. In the same quarter last year, the firm posted EPS of $4.37. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 16.78 EPS for the current year.

JPMorgan Chase & Co. announces dividends

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th were given a dividend of $1.15 per share. This represents a dividend of $4.60 on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Friday, July 5. JPMorgan Chase & Co.’s dividend payout ratio. it is currently 25.66%.

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co. operates as a global financial services company. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB) and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leasing and travel services for consumers and small businesses through bank branches, ATMs and digital and phone banking.

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