Bridge Creek Capital Management LLC Sells 586 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Bridge Creek Capital Management LLC trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,534 shares of the financial services provider’s stock after selling 586 shares during the period. JPMorgan Chase & Co. accounts for approximately 3.2% of Bridge Creek Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Bridge Creek Capital Management LLC’s holdings in JPMorgan Chase & Co. were worth $10,122,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Morgan Stanley increased its position in shares of JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after acquiring an additional 201,441 shares during the period. Wellington Management Group LLP grew its position in JPMorgan Chase & Co. by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after purchasing an additional 4,603,090 shares during the period. Capital International Investors grew its position in JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares during the period. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $6,016,878,000. Finally, Ameriprise Financial Inc. grew its position in JPMorgan Chase & Co. by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock worth $3,442,313,000 after purchasing an additional 457,184 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. 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 sale, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the sale, the insider now owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The disclosure for this sale can be found here. Insiders sold 250,565 shares of company stock worth $46,962,717 in the last 90 days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.3 %

Shares of NYSE JPM opened at $196.94 on Monday. The company has a 50 day simple moving average of $195.20 and a 200-day simple moving average of $184.87. The company has a market capitalization of $565.55 billion, a P/E ratio of 11.85, a P/E/G ratio of 2.67 and a beta of 1.12. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $205.88.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared 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. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on JPM shares. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 21st. Piper Sandler increased 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 note on Tuesday, May 21st. StockNews.com lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. UBS Group increased their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Finally, Morgan Stanley lowered their target price on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $194.10.

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.