SouthState Corp Sells 652 Shares of JPMorgan Chase & Co. (NYSE:JPM)

SouthState Corp cut its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,419 shares of the financial services provider’s stock after selling 652 shares during the period. JPMorgan Chase & Co. makes up about 2.1% of SouthState Corp’s portfolio, making the stock its 7th biggest holding. SouthState Corp’s holdings in JPMorgan Chase & Co. were worth $24,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. Beach Investment Counsel Inc. PA raised its holdings in shares of JPMorgan Chase & Co. by 3.1% during the 3rd quarter. Beach Investment Counsel Inc. PA now owns 111,052 shares of the financial services provider’s stock worth $16,105,000 after buying an additional 3,313 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 16.6% in the third quarter. Simon Quick Advisors LLC now owns 19,333 shares of the financial services provider’s stock worth $2,804,000 after acquiring an additional 2,750 shares during the last quarter. Foster & Motley Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 9.0% in the third quarter. Foster & Motley Inc. now owns 68,207 shares of the financial services provider’s stock worth $9,891,000 after acquiring an additional 5,608 shares during the last quarter. Sippican Capital Advisors boosted its stake in shares of JPMorgan Chase & Co. by 3.1% in the 3rd quarter. Sippican Capital Advisors now owns 7,018 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 210 shares in the last quarter. Finally, VeraBank N.A. grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 3rd quarter. VeraBank N.A. now owns 21,697 shares of the financial services provider’s stock valued at $3,146,000 after purchasing an additional 80 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the sale, the insider now owns 217,351 shares in the company, valued at $42,087,847.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,810 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following the completion of the transaction, the insider now owns 44,956 shares in the company, valued at approximately $8,045,325.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the sale, the insider now directly owns 217,351 shares of the company’s stock, valued at $42,087,847.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,063,506 shares of company stock valued at $195,024,605. 0.79% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on JPM. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. UBS Group reduced their price objective on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Royal Bank of Canada restated an “outperform” rating and set a $185.00 price target on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Finally, Piper Sandler dropped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $195.63 on Thursday. The stock has a market capitalization of $561.78 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.38 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $133.13 and a 52-week high of $200.94. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s 50 day moving average price is $191.74 and its two-hundred day moving average price is $173.16.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The business had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. On average, equities analysts predict that JPMorgan Chase & Co. will post 15.98 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.35%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

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.