Capital Group Private Client Services Inc. Cuts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Capital Group Private Client Services Inc. lessened its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 812,024 shares of the financial services provider’s stock after selling 217,485 shares during the period. JPMorgan Chase & Co. comprises 1.7% of Capital Group Private Client Services Inc.’s investment portfolio, making the stock its 11th biggest holding. Capital Group Private Client Services Inc.’s holdings in JPMorgan Chase & Co. were worth $162,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $6,016,878,000. International Assets Investment Management LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $1,017,893,000. Capital International Investors boosted its holdings in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock worth $258,377,000 after purchasing an additional 1,480,379 shares during the period. Finally, Cerity Partners LLC boosted its stake in JPMorgan Chase & Co. by 155.2% during the 4th quarter. Cerity Partners LLC now owns 2,246,582 shares of the financial services provider’s stock worth $382,144,000 after purchasing an additional 1,366,360 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.7 %

JPMorgan Chase & Co. stock traded up $3.57 during trading on Friday, reaching $212.24. The company had a trading volume of 8,027,787 shares, compared to its average volume of 9,013,996. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $217.56. The stock’s 50 day moving average price is $202.39 and its two-hundred day moving average price is $191.60. The firm has a market capitalization of $609.48 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.45 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The firm had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same period in the previous year, the firm earned $4.37 earnings per share. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 annualized dividend and a yield of 2.17%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the sale, the insider now directly owns 6,484 shares in the company, valued at $1,237,860.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the sale, the insider now directly owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mary E. Erdoes sold 15,895 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the completion of the transaction, the chief executive officer now owns 585,898 shares of the company’s stock, valued at approximately $113,465,006.68. The disclosure for this sale can be found here. Insiders sold a total of 72,343 shares of company stock worth $14,137,789 over the last ninety days. 0.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

JPM has been the subject of a number of recent research reports. BMO Capital Markets increased their price target on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Barclays increased their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, StockNews.com upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $202.89.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.