First City Capital Management Inc. Reduces Position in JPMorgan Chase & Co. (NYSE:JPM)

First City Capital Management Inc. trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,278 shares of the financial services provider’s stock after selling 78 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.4% of First City Capital Management Inc.’s investment portfolio, making the stock its 11th biggest position. First City Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $3,993,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redwood Park Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $29,000. Curat Global LLC bought a new stake in JPMorgan Chase & Co. in the first quarter valued at about $33,000. Sellwood Investment Partners LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on JPM shares. Evercore ISI lowered their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. UBS Group upped their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. KGI Securities started coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a “hold” rating for the company. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Finally, Truist Financial upped their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a report on Monday, June 2nd. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $267.15.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $265.81 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The stock has a 50 day simple moving average of $247.68 and a 200-day simple moving average of $249.92. The company has a market cap of $738.71 billion, a PE ratio of 13.47, a P/E/G ratio of 2.83 and a beta of 1.08. JPMorgan Chase & Co. has a 12-month low of $190.88 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.44 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.11%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the sale, the chief operating officer now directly owns 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares of the company’s stock, valued at $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,722 shares of company stock worth $25,599,477 over the last ninety days. Company insiders own 0.47% of the company’s stock.

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.