Spinnaker Trust Lowers Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Spinnaker Trust decreased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 62,438 shares of the financial services provider’s stock after selling 6,165 shares during the period. JPMorgan Chase & Co. makes up 1.0% of Spinnaker Trust’s portfolio, making the stock its 21st largest holding. Spinnaker Trust’s holdings in JPMorgan Chase & Co. were worth $15,316,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Blue Bell Private Wealth Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.5% in 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 during the period. Hurlow Wealth Management Group Inc. increased its stake in shares of JPMorgan Chase & Co. by 0.7% during 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 period. Wimmer Associates 1 LLC lifted its stake in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock worth $986,000 after acquiring an additional 40 shares during the period. Twin Lakes Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 0.3% in the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock worth $3,340,000 after acquiring an additional 40 shares during the period. Finally, Rockbridge Investment Management LCC grew its holdings in JPMorgan Chase & Co. by 2.3% during the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, June 10th. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Citigroup restated a “neutral” rating and set a $275.00 price target (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 25th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price target on the stock. in a research note on Friday, June 27th. Finally, Evercore ISI boosted their price target on JPMorgan Chase & Co. from $280.00 to $298.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $277.74.

Insiders Place Their Bets

In other news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the sale, the director directly owned 91,539 shares in the company, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares of the company’s stock, valued at $16,392,563.85. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Trading Up 1.4%

Shares of NYSE:JPM opened at $296.13 on Friday. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The company has a market capitalization of $822.96 billion, a PE ratio of 14.54, a PEG ratio of 2.75 and a beta of 1.10. The business has a 50 day moving average of $266.97 and a two-hundred day moving average of $254.73. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.44 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

JPMorgan Chase & Co. Company 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.