Elk River Wealth Management LLC Trims Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Elk River Wealth Management LLC decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% in the first quarter, HoldingsChannel.com reports. The fund owned 44,319 shares of the financial services provider’s stock after selling 183 shares during the period. JPMorgan Chase & Co. comprises about 2.0% of Elk River Wealth Management LLC’s portfolio, making the stock its 14th largest holding. Elk River Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $10,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. DDD Partners LLC lifted its position in JPMorgan Chase & Co. by 2.8% during the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 38 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 38 shares during the last quarter. Yoder Wealth Management Inc. lifted its holdings in shares of 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 in the last quarter. Almanack Investment Partners LLC. raised its position in JPMorgan Chase & Co. by 0.8% in the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after buying an additional 39 shares during the last quarter. Finally, Hurlow Wealth Management Group Inc. grew its stake 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 worth $1,328,000 after acquiring an additional 40 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Evercore ISI dropped their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Robert W. Baird raised their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, May 20th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Truist Financial increased their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Finally, UBS Group upped their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $267.15.

JPMorgan Chase & Co. Stock Performance

JPM opened at $265.81 on Friday. The stock has a market cap of $738.71 billion, a P/E ratio of 13.47, a P/E/G ratio of 2.83 and a beta of 1.08. The firm has a fifty day moving average price of $247.68 and a 200 day moving average price of $249.86. 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 1 year low of $190.88 and a 1 year high of $280.25.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares in the company, valued at $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,722 shares of company stock valued at $25,599,477 in the last three months. 0.47% of the stock is currently owned by insiders.

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.