MCF Advisors LLC Cuts Position in JPMorgan Chase & Co. (NYSE:JPM)

MCF Advisors LLC decreased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,019 shares of the financial services provider’s stock after selling 270 shares during the period. MCF Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $3,194,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $8,310,884,000. GAMMA Investing LLC raised its stake in shares of 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 worth $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of JPMorgan Chase & Co. by 15.4% in 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 buying an additional 4,515,147 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock valued at $2,561,256,000 after buying an additional 2,551,899 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in JPMorgan Chase & Co. by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock worth $4,207,028,000 after buying an additional 2,465,572 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.6%

Shares of JPM opened at $298.46 on Monday. The firm has a 50 day simple moving average of $277.68 and a two-hundred day simple moving average of $259.99. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $299.59. The company has a market cap of $829.45 billion, a P/E ratio of 15.31, a P/E/G ratio of 2.01 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The company had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. During the same quarter last year, the company posted $6.12 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS 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 paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 28.73%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research reports. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Piper Sandler reissued an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Evercore ISI set a $298.00 price objective on JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Monday, July 7th. Finally, Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,129 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at $17,197,873.08. This represents a 8.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the sale, the director owned 91,539 shares in the company, valued at $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 over the last three months. 0.47% of the stock is owned by insiders.

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.