Oak Asset Management LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 14,781 shares of the financial services provider’s stock after selling 1,036 shares during the period. Oak Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,331,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Lion Street Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $37,000. NWK Group Inc. purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $39,000. Lloyd Advisory Services LLC. purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $45,000. Horan Securities Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $45,000. Finally, Permanens Capital L.P. purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth approximately $50,000. 73.01% of the stock is currently owned by institutional investors and hedge funds.
JPM has been the topic of several recent research reports. Deutsche Bank reaffirmed a “neutral” rating and set a $105.00 target price (down from $130.00) on shares of JPMorgan Chase & Co. in a research note on Thursday, April 2nd. Bank of America downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $147.00 to $100.00 in a research report on Friday, March 27th. Piper Sandler dropped their price objective on shares of JPMorgan Chase & Co. from $149.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 3rd. ValuEngine raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. Finally, UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $82.00 to $96.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $109.75.
Shares of JPMorgan Chase & Co. stock opened at $89.47 on Friday. The company has a fifty day simple moving average of $91.61 and a 200-day simple moving average of $118.08. JPMorgan Chase & Co. has a 12-month low of $76.91 and a 12-month high of $141.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.29. The stock has a market cap of $274.75 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 3.51 and a beta of 1.20.
JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($1.92). The company had revenue of $28.25 billion during the quarter, compared to analyst estimates of $29.45 billion. JPMorgan Chase & Co. had a net margin of 21.61% and a return on equity of 12.52%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.65 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 5.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Thursday, July 2nd. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.
In other JPMorgan Chase & Co. news, Director Stephen B. Burke purchased 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was purchased at an average price of $87.99 per share, for a total transaction of $6,599,250.00. Following the purchase, the director now directly owns 150,043 shares in the company, valued at $13,202,283.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ashley Bacon sold 13,027 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $91.12, for a total transaction of $1,187,020.24. Following the sale, the insider now owns 137,243 shares of the company’s stock, valued at approximately $12,505,582.16. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.
About JPMorgan Chase & Co.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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