Connecticut Wealth Management LLC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Connecticut Wealth Management LLC reduced its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,370 shares of the financial services provider’s stock after selling 2,020 shares during the quarter. Connecticut Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,481,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of JPM. Stone House Investment Management LLC increased its holdings in 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 acquiring an additional 89 shares during the period. Retirement Group LLC increased its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 109 shares during the period. Richardson Capital Management LLC bought a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Bare Financial Services Inc bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $35,000. Finally, Partnership Wealth Management LLC bought a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $36,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 transaction of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at $42,355,358.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,565 shares of company stock valued at $46,962,717. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on JPM. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a report on Tuesday. Oppenheimer decreased their price target on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company increased their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Finally, StockNews.com raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $196.05.

JPMorgan Chase & Co. Trading Up 0.0 %

Shares of JPM opened at $207.73 on Thursday. The stock has a market capitalization of $596.53 billion, a P/E ratio of 12.54, a PEG ratio of 2.75 and a beta of 1.12. 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 firm has a fifty day simple moving average of $199.27 and a two-hundred day simple moving average of $188.41. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $210.38.

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, topping the consensus estimate 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 firm had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. On average, research analysts anticipate that JPMorgan Chase & Co. will post 16.47 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.21%. JPMorgan Chase & Co.’s dividend payout ratio is 27.78%.

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.