Jessup Wealth Management Inc Lowers Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Jessup Wealth Management Inc trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 67.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,256 shares of the financial services provider’s stock after selling 32,204 shares during the period. JPMorgan Chase & Co. makes up approximately 1.3% of Jessup Wealth Management Inc’s holdings, making the stock its 27th largest position. Jessup Wealth Management Inc’s holdings in JPMorgan Chase & Co. were worth $3,056,000 as of its most recent SEC filing.

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

JPMorgan Chase & Co. Stock Up 1.6 %

Shares of JPM stock opened at $202.26 on Friday. The stock has a market cap of $580.82 billion, a P/E ratio of 12.21, a PEG ratio of 2.67 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $205.88. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The company’s fifty day simple moving average is $196.91 and its two-hundred day simple moving average is $186.10.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results 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 business had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. Analysts predict that JPMorgan Chase & Co. will post 16.44 EPS 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. Shareholders of record on Friday, July 5th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Robert W. Baird lifted their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 21st. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research report on Tuesday, May 21st. Morgan Stanley cut their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. Finally, StockNews.com downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. One 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $194.10.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total value of $984,853.04. Following the sale, the insider now owns 217,351 shares in the company, valued at approximately $42,087,847.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 264,461 shares in the company, valued at approximately $48,708,426.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction dated 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 owns 217,351 shares in the company, 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 worth $46,962,717 in the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

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.