JPMorgan Chase & Co. $JPM Shares Sold by L2 Asset Management LLC

L2 Asset Management LLC cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 19.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,660 shares of the financial services provider’s stock after selling 5,647 shares during the period. JPMorgan Chase & Co. accounts for 1.0% of L2 Asset Management LLC’s holdings, making the stock its 28th largest position. L2 Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $7,302,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Timmons Wealth Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $32,000. Turning Point Benefit Group Inc. acquired a new stake in shares of JPMorgan Chase & Co. in the third quarter worth approximately $35,000. Merrithew & Thorsten Inc acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $40,000. Finally, WHI TRUST Co LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $45,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 433 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $295.06, for a total transaction of $127,760.98. Following the transaction, the insider owned 64,920 shares of the company’s stock, valued at approximately $19,155,295.20. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 5,468 shares of JPMorgan Chase & Co. stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares in the company, valued at $13,940,935.56. This represents a 10.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 28,589 shares of company stock worth $8,747,496. 0.41% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $331.13 on Wednesday. The stock’s fifty day moving average is $307.51 and its two-hundred day moving average is $307.30. The firm has a market capitalization of $887.27 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 1.56 and a beta of 1.00. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86. JPMorgan Chase & Co. has a fifty-two week low of $267.80 and a fifty-two week high of $337.25.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. The company had revenue of $50.54 billion for the quarter, compared to analyst estimates of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.07 earnings per share. On average, research analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. JPMorgan Chase & Co.’s payout ratio is 28.74%.

Analyst Ratings Changes

A number of analysts have recently issued reports on JPM shares. Autonomous Res lowered their price target on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Truist Financial lifted their price target on JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. DZ Bank reaffirmed a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, April 15th. Royal Bank Of Canada reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Monday, May 4th. Finally, Wells Fargo & Company lowered their price objective on JPMorgan Chase & Co. from $360.00 to $350.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 17th. Fourteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $339.08.

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About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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