Gateway Investment Advisers LLC Sells 63,957 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Gateway Investment Advisers LLC reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 706,254 shares of the financial services provider’s stock after selling 63,957 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.6% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 8th biggest position. Gateway Investment Advisers LLC’s holdings in JPMorgan Chase & Co. were worth $141,463,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $6,016,878,000. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $1,017,893,000. Wellington Management Group LLP grew its stake in shares of JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after acquiring an additional 4,603,090 shares in the last quarter. Capital International Investors grew its stake in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after acquiring an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of JPMorgan Chase & Co. by 3,836.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after acquiring an additional 1,480,379 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Down 0.4 %

Shares of NYSE JPM opened at $198.14 on Wednesday. The firm has a market cap of $568.99 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.64 and a beta of 1.12. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $205.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The company has a 50 day simple moving average of $195.87 and a 200 day simple moving average of $185.44.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping the consensus estimate of $4.18 by $0.45. The company had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.44 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the sale, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,565 shares of company stock valued at $46,962,717. 0.79% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

JPM has been the topic of several research reports. Robert W. Baird upped their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Keefe, Bruyette & Woods increased their price objective 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. UBS Group increased their price objective 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. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group increased their price objective on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average 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.