Iams Wealth Management LLC Lowers Position in JPMorgan Chase & Co. (NYSE:JPM)

Iams Wealth Management LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,579 shares of the financial services provider’s stock after selling 272 shares during the quarter. JPMorgan Chase & Co. makes up about 1.3% of Iams Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Iams Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,840,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. DDD Partners LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.8% in the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after acquiring an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after buying an additional 38 shares in the last quarter. Yoder Wealth Management Inc. boosted its position in JPMorgan Chase & Co. by 2.8% during the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 39 shares during the last quarter. Almanack Investment Partners LLC. boosted its position in JPMorgan Chase & Co. by 0.8% during the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock valued at $1,233,000 after purchasing an additional 39 shares during the last quarter. Finally, Hurlow Wealth Management Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.7% in the fourth quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock valued at $1,328,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Activity

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value 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 $32,947,774.62. This trade represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel now owns 36,520 shares of the company’s stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,594 shares of company stock valued at $23,991,061. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

JPM has been the subject of a number of recent analyst reports. TD Securities raised their price objective on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective on the stock. Bank of America cut their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley reissued an “equal weight” rating on shares of JPMorgan Chase & Co. in a research note on Monday. Finally, Piper Sandler reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $267.15.

JPMorgan Chase & Co. Trading Up 0.6%

Shares of JPM stock opened at $266.33 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The company has a market capitalization of $740.16 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The business’s fifty day moving average is $246.48 and its 200 day moving average is $249.49.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating 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 business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the business posted $4.44 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid 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 2.10%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

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.