Smithbridge Asset Management Inc. DE Sells 4,550 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Smithbridge Asset Management Inc. DE trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,686 shares of the financial services provider’s stock after selling 4,550 shares during the period. JPMorgan Chase & Co. comprises 1.9% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 13th largest position. Smithbridge Asset Management Inc. DE’s holdings in JPMorgan Chase & Co. were worth $9,240,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of JPM. Stone House Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the last quarter. Retirement Group LLC boosted its holdings in JPMorgan Chase & Co. by 227.1% during the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 109 shares during the period. Richardson Capital Management LLC bought a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $34,000. Bare Financial Services Inc purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $35,000. Finally, Partnership Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $36,000. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on JPM. Barclays increased their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Finally, StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $205.71.

JPMorgan Chase & Co. Stock Up 1.1 %

Shares of NYSE:JPM traded up $2.42 during midday trading on Friday, reaching $213.97. The company’s stock had a trading volume of 7,931,234 shares, compared to its average volume of 9,221,095. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a 50 day moving average of $204.67 and a 200-day moving average of $195.56. The firm has a market capitalization of $614.45 billion, a P/E ratio of 11.93, a PEG ratio of 2.42 and a beta of 1.12. JPMorgan Chase & Co. has a 12-month low of $135.19 and a 12-month high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share 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 business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter last year, the firm earned $4.37 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Lori A. Beer sold 5,298 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.64, for a total value of $1,062,990.72. Following the completion of the transaction, the insider now directly owns 46,375 shares in the company, valued at approximately $9,304,680. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the sale, the insider now owns 212,265 shares in the company, valued at $42,355,358.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,799 shares of company stock valued at $2,963,721. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company 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.