Chemung Canal Trust Co. Trims Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Chemung Canal Trust Co. lessened its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,328 shares of the financial services provider’s stock after selling 1,450 shares during the period. JPMorgan Chase & Co. makes up about 2.7% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 8th biggest holding. Chemung Canal Trust Co.’s holdings in JPMorgan Chase & Co. were worth $13,886,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Morgan Stanley increased its stake in JPMorgan Chase & Co. by 0.3% during the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after purchasing an additional 201,441 shares in the last quarter. Wellington Management Group LLP boosted 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 valued at $6,151,997,000 after buying an additional 4,603,090 shares during the period. Capital International Investors increased its position in shares of JPMorgan Chase & Co. by 5.4% during 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 acquiring an additional 2,128,478 shares in the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $6,016,878,000. Finally, Dimensional Fund Advisors LP lifted its position in JPMorgan Chase & Co. by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after acquiring an additional 695,502 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on JPM. StockNews.com cut JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday, May 21st. Oppenheimer cut their target price 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 target 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, Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $194.10.

Insider Activity

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total value 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 approximately $48,708,426.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the sale, the chief executive officer now owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The disclosure for this sale can be found here. Over 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.

JPMorgan Chase & Co. Stock Up 1.6 %

Shares of JPM opened at $205.45 on Tuesday. The firm has a market cap of $589.98 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 2.72 and a beta of 1.12. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $207.09. The firm’s 50-day simple moving average is $196.91 and its 200 day simple moving average is $186.28.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 company had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. On average, analysts forecast that JPMorgan Chase & Co. will post 16.44 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, July 5th. 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.