Fort Pitt Capital Group LLC Sells 699 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Fort Pitt Capital Group LLC lowered its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,183 shares of the financial services provider’s stock after selling 699 shares during the period. Fort Pitt Capital Group LLC’s holdings in JPMorgan Chase & Co. were worth $41,298,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in JPMorgan Chase & Co. by 10.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,657 shares of the financial services provider’s stock valued at $5,461,000 after acquiring an additional 3,471 shares during the last quarter. PGIM Custom Harvest LLC lifted its stake in JPMorgan Chase & Co. by 13.0% in the third quarter. PGIM Custom Harvest LLC now owns 3,190 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 367 shares during the last quarter. Operose Advisors LLC lifted its stake in JPMorgan Chase & Co. by 161.7% in the third quarter. Operose Advisors LLC now owns 3,271 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 2,021 shares during the last quarter. One Charles Private Wealth Services LLC lifted its stake in JPMorgan Chase & Co. by 2.2% in the third quarter. One Charles Private Wealth Services LLC now owns 11,450 shares of the financial services provider’s stock valued at $1,660,000 after acquiring an additional 241 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its stake in JPMorgan Chase & Co. by 44.0% in the third quarter. OMERS ADMINISTRATION Corp now owns 642,764 shares of the financial services provider’s stock valued at $93,214,000 after acquiring an additional 196,300 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM stock traded up $2.24 during mid-day trading on Monday, hitting $198.54. The stock had a trading volume of 1,035,282 shares, compared to its average volume of 9,179,837. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $205.88. The firm has a market capitalization of $570.14 billion, a P/E ratio of 11.85, a P/E/G ratio of 2.67 and a beta of 1.12. The firm has a fifty day simple moving average of $195.20 and a 200 day simple moving average of $184.87.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating the consensus estimate of $4.18 by $0.45. The firm had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. As a group, research analysts forecast that JPMorgan Chase & Co. will post 16.41 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, the insider now directly owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the sale, the insider now directly owns 6,484 shares in the company, valued at approximately $1,237,860.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, the insider now owns 217,351 shares in the company, valued at $42,087,847.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,565 shares of company stock valued at $46,962,717. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Royal Bank of Canada restated an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Evercore ISI raised their target price on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Finally, Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. 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, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.