Greenwood Capital Associates LLC Trims Position in JPMorgan Chase & Co. (NYSE:JPM)

Greenwood Capital Associates LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 54,141 shares of the financial services provider’s stock after selling 7,105 shares during the quarter. JPMorgan Chase & Co. comprises 1.4% of Greenwood Capital Associates LLC’s holdings, making the stock its 12th largest position. Greenwood Capital Associates LLC’s holdings in JPMorgan Chase & Co. were worth $10,844,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in JPM. Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $6,016,878,000. International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $1,017,893,000. 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 purchasing an additional 2,128,478 shares during the period. Public Employees Retirement Association of Colorado increased its position in JPMorgan Chase & Co. by 3,836.2% during the 4th 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 purchasing an additional 1,480,379 shares during the period. Finally, Cerity Partners LLC increased its position in JPMorgan Chase & Co. by 155.2% during the 4th quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock valued at $382,144,000 after purchasing an additional 1,366,360 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Morgan Stanley lowered their price target on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, May 21st. Finally, StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $196.05.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $207.73 on Thursday. 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 $210.38. The company has a 50 day simple moving average of $199.27 and a two-hundred day simple moving average of $188.41. The stock has a market cap of $596.53 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.75 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 EPS 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 during the quarter, compared to analysts’ expectations of $40.90 billion. As a group, analysts predict that JPMorgan Chase & Co. will post 16.47 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed 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. This represents a $4.60 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 3,000 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $198.86, for a total transaction of $596,580.00. Following the completion of the transaction, the insider now directly owns 44,113 shares of the company’s stock, valued at approximately $8,772,311.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other 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 completion of 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 is available through the SEC website. Also, insider Robin Leopold sold 3,000 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $198.86, for a total transaction of $596,580.00. Following the transaction, the insider now directly owns 44,113 shares of the company’s stock, valued at $8,772,311.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,565 shares of company stock worth $46,962,717. Company insiders own 0.79% of the company’s stock.

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.