Bennett Associates Wealth Management Has $426,000 Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Bennett Associates Wealth Management decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,736 shares of the financial services provider’s stock after selling 124 shares during the quarter. Bennett Associates Wealth Management’s holdings in JPMorgan Chase & Co. were worth $426,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $8,310,884,000. Northern Trust Corp lifted its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC lifted its holdings in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after purchasing an additional 1,914,049 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was 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 in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director now owns 91,539 shares in the company, valued at approximately $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,594 shares of company stock worth $23,991,061 over the last 90 days. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of NYSE JPM opened at $263.97 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The stock has a market capitalization of $733.60 billion, a P/E ratio of 13.37, a PEG ratio of 2.83 and a beta of 1.07. The stock’s fifty day moving average is $245.86 and its 200 day moving average is $249.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter last year, the business earned $4.44 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.0% on a year-over-year basis. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JPM. Bank of America dropped their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley lifted their target price 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. Truist Financial set a $270.00 target price on JPMorgan Chase & Co. in a report on Friday, May 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $285.00 target price (up previously from $255.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Finally, Piper Sandler reissued an “overweight” rating and set a $295.00 target price (up previously from $260.00) 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.65.

About JPMorgan Chase & Co.

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.