Agate Pass Investment Management LLC Sells 527 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Agate Pass Investment Management LLC trimmed its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,524 shares of the financial services provider’s stock after selling 527 shares during the period. JPMorgan Chase & Co. accounts for 2.1% of Agate Pass Investment Management LLC’s portfolio, making the stock its 11th largest position. Agate Pass Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $6,016,878,000. Swedbank AB purchased a new position in JPMorgan Chase & Co. in the first quarter worth $800,130,000. Capital Research Global Investors grew its holdings in JPMorgan Chase & Co. by 23.3% in the first quarter. Capital Research Global Investors now owns 17,200,124 shares of the financial services provider’s stock worth $3,445,185,000 after purchasing an additional 3,252,451 shares during the last quarter. Capital International Investors increased its position in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after purchasing an additional 2,128,478 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of JPMorgan Chase & Co. by 3,836.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after purchasing an additional 1,480,379 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $207.94 on Wednesday. The business’s 50-day moving average is $203.84 and its two-hundred day moving average is $194.92. The company has a market capitalization of $597.13 billion, a P/E ratio of 11.60, a P/E/G ratio of 2.42 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $217.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The firm had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same period last year, the company earned $4.37 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.66%.

Analyst Ratings Changes

Several brokerages recently weighed in on JPM. Piper Sandler boosted their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, Citigroup upped their price target on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.71.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The disclosure for this sale can be found here. Insiders sold a total of 14,799 shares of company stock worth $2,963,721 in the last three months. Company insiders own 0.79% of the company’s stock.

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.