Summit X LLC Has $667,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Summit X LLC lessened its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,920 shares of the financial services provider’s stock after selling 288 shares during the period. Summit X LLC’s holdings in JPMorgan Chase & Co. were worth $667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in JPM. Etfidea LLC grew its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after buying an additional 100 shares during the period. TKG Advisors LLC grew its holdings in JPMorgan Chase & Co. by 97.6% in the 3rd quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock worth $1,915,000 after acquiring an additional 6,521 shares during the last quarter. Sutton Place Investors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 179.5% during the fourth quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after purchasing an additional 8,412 shares during the period. Allen Investment Management LLC grew its position in shares of JPMorgan Chase & Co. by 15.8% in the 3rd quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock worth $25,341,000 after buying an additional 23,894 shares during the last quarter. Finally, Breakwater Capital Group raised its holdings in JPMorgan Chase & Co. by 12.3% in the 3rd quarter. Breakwater Capital Group now owns 8,558 shares of the financial services provider’s stock worth $1,189,000 after purchasing an additional 934 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $199.58 on Wednesday. The firm has a market capitalization of $573.13 billion, a PE ratio of 12.05, a PEG ratio of 2.40 and a beta of 1.13. The stock’s fifty day moving average is $194.19 and its 200 day moving average is $177.38. JPMorgan Chase & Co. has a fifty-two week low of $134.40 and a fifty-two week high of $205.88. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.45. The firm had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.28 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.30%. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Buying and Selling

In other news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the sale, the insider now directly owns 217,351 shares of the company’s stock, valued at $42,087,847.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,030 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the sale, the general counsel now owns 59,456 shares in the company, valued at approximately $10,864,394.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the transaction, the insider now directly owns 217,351 shares of the company’s stock, valued at $42,087,847.64. The disclosure for this sale can be found here. In the last three months, insiders sold 1,081,127 shares of company stock valued at $198,695,364. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of a number of research reports. The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Robert W. Baird upped their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday. BMO Capital Markets lowered their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a report on Monday, April 15th. Jefferies Financial Group upped their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Profile

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.