Thrive Wealth Management LLC Sells 355 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Thrive Wealth Management LLC lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,229 shares of the financial services provider’s stock after selling 355 shares during the period. Thrive Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $8,310,884,000. Northern Trust Corp grew its position in shares of JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after acquiring an additional 1,914,049 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent analyst reports. UBS Group raised their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Morgan Stanley reaffirmed an “equal weight” rating on shares of JPMorgan Chase & Co. in a research report on Monday. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Finally, KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $267.15.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $264.38 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 12 month low of $190.88 and a 12 month high of $280.25. The firm’s 50 day simple moving average is $246.91 and its 200-day simple moving average is $249.59. The stock has a market capitalization of $734.74 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the business posted $4.44 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

Insider Activity

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at approximately $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. The trade was a 2.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock worth $23,991,061 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

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.