Atlantic Union Bankshares Corp Cuts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Atlantic Union Bankshares Corp lessened its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.9% during the first quarter, Holdings Channel reports. The firm owned 114,186 shares of the financial services provider’s stock after selling 4,678 shares during the quarter. JPMorgan Chase & Co. makes up about 1.9% of Atlantic Union Bankshares Corp’s investment portfolio, making the stock its 8th biggest position. Atlantic Union Bankshares Corp’s holdings in JPMorgan Chase & Co. were worth $22,871,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Sherbrooke Park Advisers LLC bought a new position in JPMorgan Chase & Co. in the third quarter worth about $244,000. Ameriprise Financial Inc. raised its position in shares of JPMorgan Chase & Co. by 2.0% in 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 acquiring an additional 457,184 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of JPMorgan Chase & Co. by 2,011.3% in the 3rd quarter. Alps Advisors Inc. now owns 173,528 shares of the financial services provider’s stock valued at $25,165,000 after purchasing an additional 165,309 shares during the period. Alerus Financial NA boosted its position in shares of JPMorgan Chase & Co. by 53.6% during the third quarter. Alerus Financial NA now owns 98,477 shares of the financial services provider’s stock valued at $14,281,000 after purchasing an additional 34,344 shares in the last quarter. Finally, Ellerson Group Inc. ADV grew its stake in JPMorgan Chase & Co. by 3.7% in the third quarter. Ellerson Group Inc. ADV now owns 13,413 shares of the financial services provider’s stock worth $1,945,000 after purchasing an additional 480 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on JPM shares. StockNews.com lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Piper Sandler boosted their price objective 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. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research note on Tuesday, May 21st. Oppenheimer dropped their price target on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Finally, BMO Capital Markets reduced their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research 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 assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.10.

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 other news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction dated 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 transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure for this sale can be found here. Insiders sold 250,565 shares of company stock valued at $46,962,717 in the last quarter. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Up 1.6 %

Shares of JPM stock opened at $202.26 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 stock has a market capitalization of $580.82 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.72 and a beta of 1.12. The firm’s 50 day moving average is $196.91 and its 200 day moving average is $186.28.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. Research analysts expect that JPMorgan Chase & Co. will post 16.44 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 is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.27%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

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.