JPMorgan Chase & Co. (NYSE:JPM) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 13.4% during the first quarter, Holdings Channel reports. The firm owned 10,390 shares of the financial services provider’s stock after selling 1,614 shares during the period. JPMorgan Chase & Co. makes up approximately 0.9% of Fortitude Family Office LLC’s portfolio, making the stock its 22nd largest position. Fortitude Family Office LLC’s holdings in JPMorgan Chase & Co. were worth $2,549,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fourth Dimension Wealth LLC acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $471,000. Disciplined Investments LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $217,000. LGT Group Foundation grew its holdings in JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after acquiring an additional 14,300 shares during the period. Kinsale Capital Group Inc. grew its holdings in JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after acquiring an additional 4,375 shares during the period. Finally, Jag Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 140 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a “hold” rating on the stock. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Truist Financial raised their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $269.65.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 101,722 shares of company stock worth $25,599,477 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $264.72 on Friday. The company has a market capitalization of $735.69 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.83 and a beta of 1.08. The business’s 50 day moving average is $252.10 and its two-hundred day moving average is $250.56. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $280.25.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced 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 is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

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.