Somerset Trust Co Cuts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Somerset Trust Co lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,378 shares of the financial services provider’s stock after selling 74 shares during the quarter. JPMorgan Chase & Co. comprises 3.1% of Somerset Trust Co’s investment portfolio, making the stock its 3rd biggest holding. Somerset Trust Co’s holdings in JPMorgan Chase & Co. were worth $8,678,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $29,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $37,000. Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares of the company’s stock, valued at $12,130,438.84. This represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the transaction, the chief financial officer now directly owns 18,017 shares of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,594 shares of company stock worth $23,991,061. Insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $285.00 price objective (up previously from $255.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $295.00 target price (up previously from $260.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $266.65.

JPMorgan Chase & Co. Trading Down 0.2%

NYSE:JPM opened at $263.97 on Friday. 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 market cap of $733.60 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The firm has a 50-day moving average price of $245.86 and a two-hundred day moving average price of $249.13.

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, beating the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the business posted $4.44 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.12%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

About JPMorgan Chase & Co.

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.