Fort Pitt Capital Group LLC Sells 699 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Fort Pitt Capital Group LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 206,183 shares of the financial services provider’s stock after selling 699 shares during the period. Fort Pitt Capital Group LLC’s holdings in JPMorgan Chase & Co. were worth $41,298,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $6,016,878,000. International Assets Investment Management LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $1,017,893,000. Wellington Management Group LLP grew its position in JPMorgan Chase & Co. by 12.2% during 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 acquiring an additional 4,603,090 shares during the last quarter. Capital International Investors grew its position in 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 valued at $7,062,094,000 after acquiring an additional 2,128,478 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in JPMorgan Chase & Co. by 3,836.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after acquiring an additional 1,480,379 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was 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 owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James Dimon sold 178,222 shares of the firm’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 transaction, 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 currently owned by company insiders.

JPMorgan Chase & Co. Trading Up 1.1 %

JPM stock traded up $2.24 on Monday, reaching $198.54. The company’s stock had a trading volume of 1,035,282 shares, compared to its average volume of 9,179,837. The business has a fifty day simple moving average of $195.20 and a two-hundred day simple moving average of $184.87. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $205.88. The firm has a market cap of $570.14 billion, a PE ratio of 11.85, a PEG ratio of 2.67 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. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. As a group, research analysts forecast that JPMorgan Chase & Co. will post 16.41 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods increased their price target 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. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Robert W. Baird raised their target price 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. BMO Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Finally, Oppenheimer cut their target price 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. One investment 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’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $194.10.

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.