JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,516 shares of the financial services provider’s stock after selling 222 shares during the period. Castle Rock Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,761,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $29,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth $34,000. Investment Counsel Co. of Nevada acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $37,000. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Finally, Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $260.77 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a market cap of $724.70 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.83 and a beta of 1.07. The stock has a 50 day moving average of $244.31 and a 200-day moving average of $248.58.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period last year, the business posted $4.44 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.15%. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group upped their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Morgan Stanley upped their price target on JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and set a $295.00 price target (up from $260.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $285.00 price objective (up previously from $255.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.65.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now owns 36,520 shares of the company’s stock, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 95,594 shares of company stock valued at $23,991,061. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.