Werlinich Asset Management LLC Has $7.02 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Werlinich Asset Management LLC cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,197 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. JPMorgan Chase & Co. makes up approximately 4.6% of Werlinich Asset Management LLC’s portfolio, making the stock its 5th largest holding. Werlinich Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,023,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of JPMorgan Chase & Co. by 10.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,657 shares of the financial services provider’s stock valued at $5,461,000 after acquiring an additional 3,471 shares during the period. Parkside Financial Bank & Trust boosted its holdings in JPMorgan Chase & Co. by 2.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 20,708 shares of the financial services provider’s stock valued at $3,003,000 after purchasing an additional 460 shares during the period. PGIM Custom Harvest LLC grew its position in shares of JPMorgan Chase & Co. by 13.0% during the 3rd quarter. PGIM Custom Harvest LLC now owns 3,190 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 367 shares in the last quarter. Operose Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 161.7% in the third quarter. Operose Advisors LLC now owns 3,271 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 2,021 shares during the period. Finally, One Charles Private Wealth Services LLC raised its position in shares of JPMorgan Chase & Co. by 2.2% in the third quarter. One Charles Private Wealth Services LLC now owns 11,450 shares of the financial services provider’s stock worth $1,660,000 after buying an additional 241 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on JPM. Morgan Stanley dropped their price target on 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. StockNews.com cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Robert W. Baird lifted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. Finally, Piper Sandler increased their target price 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. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded down $2.37 during mid-day trading on Friday, hitting $196.30. 20,972,495 shares of the company traded hands, compared to its average volume of 7,394,113. The stock has a market cap of $563.71 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 2.67 and a beta of 1.12. The stock has a 50-day moving average price of $195.20 and a two-hundred day moving average price of $184.67. 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 quick ratio of 0.92 and a current ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. Equities analysts anticipate that JPMorgan Chase & Co. will post 16.41 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company 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 dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.34%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Insider Activity

In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’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 transaction, the general counsel now owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now directly owns 64,783 shares of the company’s stock, valued at approximately $12,656,006.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the sale, the general counsel now directly 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 254,485 shares of company stock valued at $47,728,528 in the last quarter. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. 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.