Banque Pictet & Cie SA Has $16 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Banque Pictet & Cie SA decreased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,219 shares of the financial services provider’s stock after selling 3,579 shares during the period. Banque Pictet & Cie SA’s holdings in JPMorgan Chase & Co. were worth $15,998,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Fourth Dimension Wealth LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC boosted its position in shares of JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock worth $1,060,000 after purchasing an additional 222 shares in the last quarter. Hidden Cove Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock worth $677,000 after purchasing an additional 112 shares in the last quarter. Aaron Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock worth $4,953,000 after acquiring an additional 1,218 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of JPMorgan Chase & Co. by 11.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after acquiring an additional 1,561 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. KGI Securities assumed coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating for the company. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, July 7th. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Finally, Truist Financial boosted their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.42.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $286.39 on Wednesday. The company has a 50 day simple moving average of $272.45 and a 200 day simple moving average of $257.02. The stock has a market cap of $795.90 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 2.64 and a beta of 1.10. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same period in the prior year, the company posted $6.12 EPS. The company’s revenue was down 10.5% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company 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 dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 2,821 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares of the company’s stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. 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.