Charles Schwab Trust Co Reduces Stake in JPMorgan Chase & Co. (NYSE:JPM)

Charles Schwab Trust Co reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,667 shares of the financial services provider’s stock after selling 2,854 shares during the quarter. Charles Schwab Trust Co’s holdings in JPMorgan Chase & Co. were worth $6,541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $29,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth about $37,000. Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $43,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on JPM shares. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Evercore ISI cut their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Piper Sandler reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Finally, Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $267.15.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,272 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.03, for a total value of $1,055,312.16. Following the completion of the sale, the chief operating officer now directly owns 50,197 shares in the company, valued at approximately $12,400,164.91. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,594 shares of company stock valued at $23,991,061. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $264.38 on Thursday. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25. The firm has a market cap of $734.74 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.83 and a beta of 1.08. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a 50-day simple moving average of $246.91 and a two-hundred day simple moving average of $249.59.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the previous year, the business posted $4.44 EPS. JPMorgan Chase & Co.’s revenue was up 8.0% on a year-over-year basis. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

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.