Ridgecrest Wealth Partners LLC Sells 355 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Ridgecrest Wealth Partners LLC decreased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,002 shares of the financial services provider’s stock after selling 355 shares during the period. JPMorgan Chase & Co. makes up 1.1% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 21st largest holding. Ridgecrest Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,803,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $6,016,878,000. International Assets Investment Management LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $1,017,893,000. Wellington Management Group LLP boosted its position 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 purchasing an additional 4,603,090 shares in the last quarter. Capital International Investors increased 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 valued at $7,062,094,000 after buying an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake 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 buying an additional 1,480,379 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $208.83 on Wednesday. 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 stock has a market capitalization of $599.69 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 2.72 and a beta of 1.12. The firm’s 50 day moving average price is $197.23 and its 200-day moving average price is $186.57. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $208.86.

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, 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 business had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. Equities research analysts expect that JPMorgan Chase & Co. will post 16.44 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business 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 2.20%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the transaction, the insider now directly owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction 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 sale, the insider now directly 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 the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Insiders sold a total of 250,565 shares of company stock worth $46,962,717 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on JPM. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Jefferies Financial Group raised their price objective on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Oppenheimer dropped 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 research note on Monday, April 15th. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Piper Sandler upped their price objective on JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $194.10.

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.