Cranbrook Wealth Management LLC Reduces Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Cranbrook Wealth Management LLC lowered its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,173 shares of the financial services provider’s stock after selling 223 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,741,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at about $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $265.81 on Friday. The firm has a market capitalization of $738.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.83 and a beta of 1.08. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average is $247.68 and its two-hundred day moving average is $249.86.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.11%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, May 20th. Royal Bank of Canada reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Evercore ISI reduced their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. Piper Sandler reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Finally, Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus target price of $267.15.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,272 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the transaction, the chief operating officer now directly owns 50,197 shares in the company, valued at $12,400,164.91. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,722 shares of company stock worth $25,599,477 over the last three months. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. 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.