Covington Investment Advisors Inc. Sells 845 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Covington Investment Advisors Inc. trimmed its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,680 shares of the financial services provider’s stock after selling 845 shares during the quarter. JPMorgan Chase & Co. accounts for 1.6% of Covington Investment Advisors Inc.’s portfolio, making the stock its 22nd largest position. Covington Investment Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $9,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JPM. Stone House Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares during the period. Retirement Group LLC increased its stake in JPMorgan Chase & Co. by 227.1% in the 1st quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $34,000. Bare Financial Services Inc acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Finally, Partnership Wealth Management LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $36,000. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the transaction, the insider now directly owns 6,484 shares in the company, valued at approximately $1,237,860.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Insiders sold 72,343 shares of company stock valued at $14,137,789 in the last quarter. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock traded up $3.57 during midday trading on Friday, hitting $212.24. 8,027,787 shares of the company were exchanged, compared to its average volume of 9,013,996. The firm has a market capitalization of $609.48 billion, a P/E ratio of 11.84, a PEG ratio of 2.45 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The firm’s 50 day moving average price is $202.39 and its two-hundred day moving average price is $191.60. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same quarter in the previous year, the firm posted $4.37 EPS. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Robert W. Baird lifted their price target on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Jefferies Financial Group lifted their price target on shares of JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, Morgan Stanley lifted their price target on shares of JPMorgan Chase & Co. from $214.00 to $221.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $202.89.

About JPMorgan Chase & Co.

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.