Hennessy Advisors Inc. Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Hennessy Advisors Inc. decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 30.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,200 shares of the financial services provider’s stock after selling 17,550 shares during the period. Hennessy Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $8,052,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Morgan Stanley increased its holdings in shares of JPMorgan Chase & Co. by 0.3% in the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after buying an additional 201,441 shares during the period. Wellington Management Group LLP increased its holdings 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 worth $6,151,997,000 after buying an additional 4,603,090 shares during the period. Capital International Investors increased its holdings 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 worth $7,062,094,000 after buying an additional 2,128,478 shares during the period. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $6,016,878,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock worth $3,442,313,000 after buying an additional 457,184 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value 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 SEC, which is accessible through the SEC website. In related news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the business’s 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 completion of the transaction, the insider now owns 217,351 shares of the company’s stock, valued at $42,087,847.64. The disclosure for this sale can be found here. Insiders have sold a total of 250,565 shares of company stock valued at $46,962,717 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on JPM shares. Morgan Stanley decreased their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Royal Bank of Canada restated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. UBS Group boosted their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, StockNews.com downgraded JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average price target of $194.10.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $202.26 on Friday. The stock’s 50 day simple moving average is $196.91 and its two-hundred day simple moving average is $186.10. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market cap of $580.82 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.67 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. As a group, analysts expect that JPMorgan Chase & Co. will post 16.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.27%. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.