Thornburg Investment Management Inc. Decreases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Thornburg Investment Management Inc. cut its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,579,891 shares of the financial services provider’s stock after selling 82,215 shares during the quarter. JPMorgan Chase & Co. accounts for about 4.4% of Thornburg Investment Management Inc.’s holdings, making the stock its 4th largest position. Thornburg Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $316,452,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of JPM. Trust Co of the South boosted its stake in JPMorgan Chase & Co. by 1.1% in the first quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock valued at $991,000 after acquiring an additional 53 shares in the last quarter. Inspire Advisors LLC grew its stake in JPMorgan Chase & Co. by 2.6% during the 1st quarter. Inspire Advisors LLC now owns 2,103 shares of the financial services provider’s stock worth $421,000 after buying an additional 54 shares during the last quarter. PFW Advisors LLC increased its position in JPMorgan Chase & Co. by 1.1% during the 1st quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock valued at $1,048,000 after buying an additional 55 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. raised its stake in JPMorgan Chase & Co. by 2.0% in the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,837 shares of the financial services provider’s stock valued at $568,000 after buying an additional 55 shares during the last quarter. Finally, KFG Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 3.6% during the first quarter. KFG Wealth Management LLC now owns 1,594 shares of the financial services provider’s stock worth $319,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on JPM shares. Citigroup lifted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Wolfe Research downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Monday, July 8th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research report on Tuesday, July 9th. Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Piper Sandler increased their price objective on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $202.89.

Insiders Place Their Bets

In other news, insider Elena A. Korablina sold 21,829 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the sale, the insider now directly owns 6,484 shares in the company, valued at $1,237,860.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the transaction, the insider now directly owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,343 shares of company stock worth $14,137,789. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM traded up $0.66 during mid-day trading on Thursday, reaching $209.25. 1,114,319 shares of the stock were exchanged, compared to its average volume of 9,210,623. The company has a market capitalization of $600.90 billion, a P/E ratio of 11.63, a P/E/G ratio of 2.47 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The business’s 50 day moving average is $202.11 and its 200-day moving average is $191.20. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. The business had revenue of $50.80 billion during the quarter, compared to the consensus estimate of $42.23 billion. During the same quarter in the prior year, the firm posted $4.37 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.20%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

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.