Pinnacle Wealth Management Group Inc. Decreases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Pinnacle Wealth Management Group Inc. reduced its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 11,144 shares of the financial services provider’s stock after selling 132 shares during the period. JPMorgan Chase & Co. comprises about 1.7% of Pinnacle Wealth Management Group Inc.’s holdings, making the stock its 21st biggest position. Pinnacle Wealth Management Group Inc.’s holdings in JPMorgan Chase & Co. were worth $2,232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Etfidea LLC raised its position in shares of JPMorgan Chase & Co. by 5.4% in the 4th quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 100 shares during the last quarter. TKG Advisors LLC raised its position in JPMorgan Chase & Co. by 97.6% during the 3rd quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock worth $1,915,000 after buying an additional 6,521 shares during the last quarter. Sutton Place Investors LLC raised its position in JPMorgan Chase & Co. by 179.5% during the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after buying an additional 8,412 shares during the last quarter. Allen Investment Management LLC raised its position in JPMorgan Chase & Co. by 15.8% during the 3rd quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock worth $25,341,000 after buying an additional 23,894 shares during the last quarter. Finally, Breakwater Capital Group raised its position in JPMorgan Chase & Co. by 12.3% during the 3rd quarter. Breakwater Capital Group now owns 8,558 shares of the financial services provider’s stock worth $1,189,000 after buying an additional 934 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded down $1.23 during midday trading on Wednesday, hitting $198.29. 9,420,618 shares of the stock were exchanged, compared to its average volume of 9,329,456. The stock has a market cap of $569.42 billion, a P/E ratio of 11.97, a PEG ratio of 2.40 and a beta of 1.13. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a twelve month low of $134.40 and a twelve month high of $205.88. The company has a 50 day moving average price of $194.32 and a 200-day moving average price of $177.52.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. On average, research analysts forecast that JPMorgan Chase & Co. will post 16.28 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the completion of the sale, the chief executive officer now owns 595,316 shares in the company, valued at approximately $108,782,092.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James Dimon sold 821,778 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the completion of the sale, the chief executive officer now owns 595,316 shares in the company, valued at approximately $108,782,092.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the sale, the general counsel now 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. In the last quarter, insiders sold 1,081,127 shares of company stock worth $198,695,364. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JPM. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Oppenheimer cut their target price on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. Morgan Stanley cut their target price on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $194.10.

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.