JPMorgan Chase & Co. (NYSE:JPM) Position Reduced by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 19,524 shares of the financial services provider’s stock after selling 527 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.1% of Agate Pass Investment Management LLC’s holdings, making the stock its 11th biggest holding. Agate Pass Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,949,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of JPM. Gemmer Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 1.6% in the 2nd quarter. Gemmer Asset Management LLC now owns 3,135 shares of the financial services provider’s stock valued at $634,000 after acquiring an additional 48 shares during the last quarter. Northside Capital Management LLC grew its holdings in JPMorgan Chase & Co. by 0.7% during the second quarter. Northside Capital Management LLC now owns 6,750 shares of the financial services provider’s stock valued at $1,365,000 after purchasing an additional 50 shares during the period. Trust Co of the South increased its stake in JPMorgan Chase & Co. by 1.1% in the first quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock valued at $991,000 after purchasing an additional 53 shares in the last quarter. Inspire Advisors LLC raised its holdings in JPMorgan Chase & Co. by 2.6% in the first quarter. Inspire Advisors LLC now owns 2,103 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 54 shares during the period. Finally, PFW Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 1.1% during the first quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock worth $1,048,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 5,298 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the sale, the insider now directly owns 46,375 shares of the company’s stock, valued at $9,304,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Lori A. Beer sold 5,298 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the completion of the transaction, the insider now owns 46,375 shares in the company, valued at $9,304,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,799 shares of company stock valued at $2,963,721. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Oppenheimer raised their price target on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Barclays lifted their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

JPMorgan Chase & Co. Trading Up 0.8 %

Shares of NYSE:JPM opened at $207.94 on Wednesday. The company’s 50-day moving average price is $203.84 and its two-hundred day moving average price is $194.92. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $217.56. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The stock has a market capitalization of $597.13 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

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, topping the consensus estimate of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter in the prior year, the company posted $4.37 earnings per share. On average, equities analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 25.66%.

About JPMorgan Chase & Co.

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.