JPMorgan Chase & Co. (NYSE:JPM) is tru Independence LLC’s 8th Largest Position

tru Independence LLC reduced its stake in shares of JPMorgan Chase & Co. (NYSE:JPMFree Report) by 2.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,695 shares of the financial services provider’s stock after selling 1,090 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.2% of tru Independence LLC’s investment portfolio, making the stock its 8th largest position. tru Independence LLC’s holdings in JPMorgan Chase & Co. were worth $7,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in JPM. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $6,016,878,000. International Assets Investment Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $1,017,893,000. Wellington Management Group LLP boosted its stake in shares of JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares during the period. Capital International Investors boosted its stake 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 valued at $7,062,094,000 after purchasing an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado boosted its stake in shares of JPMorgan Chase & Co. by 3,836.2% during the fourth 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 period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

JPM opened at $204.77 on Friday. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $210.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a market cap of $588.03 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. The firm’s 50-day moving average price is $198.41 and its 200-day moving average price is $187.45.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The firm had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 16.5 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.25%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the sale, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the sale, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the sale, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Insiders have sold a total of 250,565 shares of company stock worth $46,962,717 over the last quarter. Insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of a number of research reports. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. 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 research note on Tuesday, May 21st. Oppenheimer lowered their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Monday, April 15th. Finally, BMO Capital Markets lowered their price objective on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research note on Monday, April 15th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.65.

Check Out Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Profile

(Free Report)

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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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