JPMorgan Chase & Co. $JPM Shares Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. lowered its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,703 shares of the financial services provider’s stock after selling 2,223 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in JPMorgan Chase & Co. were worth $7,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Turning Point Benefit Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at approximately $35,000. Merrithew & Thorsten Inc purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $40,000. WHI TRUST Co LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $45,000. Cresta Advisors Ltd. acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $48,000. Finally, Miller Global Investments LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $52,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In other news, CFO Jeremy Barnum sold 5,611 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.55, for a total value of $1,720,052.05. Following the completion of the transaction, the chief financial officer directly owned 35,460 shares in the company, valued at approximately $10,870,263. This represents a 13.66% 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the transaction, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,589 shares of company stock valued at $8,747,496 over the last ninety days. 0.41% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $299.04 on Thursday. The company has a market capitalization of $801.27 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. The firm has a fifty day simple moving average of $302.05 and a 200-day simple moving average of $306.96. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a twelve month low of $260.31 and a twelve month high of $337.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a net margin of 20.66% and a return on equity of 17.54%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.07 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 22.4 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $1.50 dividend. The ex-dividend date is Monday, July 6th. This represents a $6.00 annualized dividend and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on JPM. Truist Financial boosted their price target on shares of JPMorgan Chase & Co. from $323.00 to $332.00 and gave the stock a “hold” rating in a research note on Wednesday, April 15th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Argus upped their price target on shares of JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. The Goldman Sachs Group set a $361.00 price target on shares of JPMorgan Chase & Co. in a report on Tuesday, April 14th. Finally, Dbs Bank raised shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Tuesday, May 12th. Fifteen research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $339.08.

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Negative Sentiment: JPMorgan may spend heavily on acquisitions, which could reduce capital flexibility and pressure returns if deals are expensive or hard to integrate. Jamie Dimon says JPMorgan Chase could spend $20 billion on acquisition: ‘We are on the lookout’
• Negative Sentiment: Dimon said earnings may not stay at current levels and that costs are likely to rise, which raises concerns about margin pressure. JPMorgan Chase Stock Is Falling: What’s Happening Today?
• Neutral Sentiment: The bank also announced it will redeem $2.0 billion of Series KK preferred stock, a routine capital-management move that is not likely to change the investment thesis on its own. JPMorgan Chase to Redeem Series KK Preferred Stock
• Positive Sentiment: Dimon’s willingness to consider large acquisitions also reflects confidence in JPMorgan’s excess capital and long-term growth options, which could support the stock over time if management finds attractive targets. Jamie Dimon says JPMorgan could spend up to $20bn on a new acquisition

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.