Ropes Wealth Advisors LLC Sells 8,537 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Ropes Wealth Advisors LLC decreased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,840 shares of the financial services provider’s stock after selling 8,537 shares during the quarter. JPMorgan Chase & Co. comprises approximately 2.1% of Ropes Wealth Advisors LLC’s holdings, making the stock its 7th biggest holding. Ropes Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $12,024,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. MV Capital Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 15.1% during the 1st quarter. MV Capital Management Inc. now owns 18,128 shares of the financial services provider’s stock valued at $2,760,000 after acquiring an additional 2,378 shares in the last quarter. South State CORP. lifted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 1st quarter. South State CORP. now owns 156,592 shares of the financial services provider’s stock valued at $23,837,000 after acquiring an additional 1,450 shares in the last quarter. Insight Wealth Strategies LLC lifted its holdings in JPMorgan Chase & Co. by 41.3% in the 1st quarter. Insight Wealth Strategies LLC now owns 10,752 shares of the financial services provider’s stock worth $1,637,000 after buying an additional 3,143 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth $817,000. Finally, Norinchukin Bank The lifted its holdings in JPMorgan Chase & Co. by 1.2% in the 1st quarter. Norinchukin Bank The now owns 115,952 shares of the financial services provider’s stock worth $17,651,000 after buying an additional 1,417 shares in the last quarter. Institutional investors and hedge funds own 70.56% of the company’s stock.

A number of equities research analysts have recently issued reports on JPM shares. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $170.00 to $182.00 and gave the company an “overweight” rating in a research note on Thursday, April 15th. Royal Bank of Canada upped their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, April 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of JPMorgan Chase & Co. from $142.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, April 1st. Jefferies Financial Group boosted their price objective on shares of JPMorgan Chase & Co. from $157.00 to $177.00 and gave the company a “buy” rating in a research report on Friday, April 9th. Finally, Credit Suisse Group boosted their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, March 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $151.79.

In other news, insider Ashley Bacon sold 11,930 shares of the firm’s stock in a transaction dated Thursday, April 15th. The shares were sold at an average price of $150.91, for a total transaction of $1,800,356.30. Also, General Counsel Stacey Friedman sold 16,965 shares of the firm’s stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $150.90, for a total transaction of $2,560,018.50. Insiders sold a total of 61,130 shares of company stock worth $9,224,636 over the last quarter. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. stock traded down $0.19 during trading hours on Friday, hitting $160.21. The company had a trading volume of 158,948 shares, compared to its average volume of 14,262,492. The firm has a market capitalization of $484.98 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 2.48 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. The company’s fifty day moving average is $158.15. JPMorgan Chase & Co. has a fifty-two week low of $90.78 and a fifty-two week high of $167.44.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, April 13th. The financial services provider reported $4.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.10 by $1.40. JPMorgan Chase & Co. had a net margin of 31.15% and a return on equity of 16.66%. The company had revenue of $32.30 billion for the quarter, compared to analyst estimates of $29.97 billion. During the same quarter in the prior year, the business posted $0.78 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 13.35 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, July 31st. Investors of record on Tuesday, July 6th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Friday, July 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 2.25%. JPMorgan Chase & Co.’s payout ratio is presently 40.54%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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

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