JPMorgan Chase & Co. (NYSE:JPM) Stake Cut by Wealth Management Partners LLC

Wealth Management Partners LLC reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,198 shares of the financial services provider’s stock after selling 282 shares during the period. JPMorgan Chase & Co. comprises about 1.1% of Wealth Management Partners LLC’s holdings, making the stock its 23rd largest holding. Wealth Management Partners LLC’s holdings in JPMorgan Chase & Co. were worth $2,243,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of JPM. Stone House Investment Management LLC raised its stake in shares of JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares in the last quarter. Bare Financial Services Inc purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Partnership Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $36,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $40,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $40,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on JPM shares. Jefferies Financial Group raised their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Evercore ISI raised their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Oppenheimer cut their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Finally, Morgan Stanley cut their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $194.10.

Insider Buying and Selling

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

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $198.14 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $205.88. The firm has a market capitalization of $568.99 billion, a PE ratio of 11.96, a PEG ratio of 2.64 and a beta of 1.12. The business’s 50 day moving average is $195.87 and its 200-day moving average is $185.44. 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. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.45. The company had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.44 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

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.