Opal Wealth Advisors LLC Sells 1,574 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Opal Wealth Advisors LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 27.3% in the 1st quarter, Holdings Channel reports. The firm owned 4,191 shares of the financial services provider’s stock after selling 1,574 shares during the period. Opal Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $839,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Morgan Stanley increased its stake 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 worth $9,127,754,000 after acquiring an additional 201,441 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of JPMorgan Chase & Co. by 12.2% in 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 acquiring an additional 4,603,090 shares in the last quarter. Capital International Investors increased its stake in shares of JPMorgan Chase & Co. by 5.4% in 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 acquiring an additional 2,128,478 shares in the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $6,016,878,000. Finally, Ameriprise Financial Inc. increased its stake 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 valued at $3,442,313,000 after purchasing an additional 457,184 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Morgan Stanley reduced their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company 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. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. 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 note on Tuesday, May 21st. Finally, Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.10.

JPMorgan Chase & Co. Stock Performance

JPM opened at $196.75 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $205.88. The company has a market cap of $565.00 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 2.67 and a beta of 1.12. The company’s 50 day moving average is $195.20 and its 200 day moving average is $184.87.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating 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 business had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. On average, equities research analysts predict that JPMorgan Chase & Co. will post 16.41 EPS 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. Shareholders of record on Friday, July 5th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 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 available through the SEC website. In other news, CEO Mary E. Erdoes sold 15,895 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the sale, the chief executive officer now owns 585,898 shares in the company, valued at $113,465,006.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 sale, the chief executive officer now owns 264,461 shares in the company, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Insiders have sold 250,565 shares of company stock valued at $46,962,717 over the last 90 days. 0.79% of the stock is currently owned by corporate 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.