WASHINGTON TRUST Co Has $40.76 Million Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

WASHINGTON TRUST Co reduced its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 201,523 shares of the financial services provider’s stock after selling 6,559 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.5% of WASHINGTON TRUST Co’s investment portfolio, making the stock its 17th largest holding. WASHINGTON TRUST Co’s holdings in JPMorgan Chase & Co. were worth $40,760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $6,016,878,000. Swedbank AB bought a new position in JPMorgan Chase & Co. during the first quarter worth about $800,130,000. Capital Research Global Investors boosted its holdings in JPMorgan Chase & Co. by 23.3% during 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 buying an additional 3,252,451 shares during the last quarter. Capital International Investors grew its position in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock worth $7,062,094,000 after buying an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its position in shares of JPMorgan Chase & Co. by 3,836.2% in 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 acquiring an additional 1,480,379 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.5 %

NYSE:JPM traded up $0.99 on Tuesday, hitting $207.18. 3,105,174 shares of the company’s stock were exchanged, compared to its average volume of 9,236,909. The firm has a 50-day moving average price of $203.66 and a 200-day moving average price of $194.67. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $217.56. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.91 and a quick ratio of 0.92. The company has a market cap of $594.95 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the company posted $4.37 earnings per share. As a group, analysts expect that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were paid a $1.15 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.22%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on JPM shares. Citigroup upped their target price 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. Piper Sandler raised their price objective 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. Jefferies Financial Group boosted their target price on 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 reaffirmed an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Finally, UBS Group boosted their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $205.71.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction 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 $8,452,180.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,799 shares of company stock valued at $2,963,721. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Profile

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.