Renaissance Investment Group LLC Decreases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Renaissance Investment Group LLC lessened its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,035 shares of the financial services provider’s stock after selling 50 shares during the quarter. Renaissance Investment Group LLC’s holdings in JPMorgan Chase & Co. were worth $215,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of JPM. Princeton Global Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% in the 4th quarter. Princeton Global Asset Management LLC now owns 60,513 shares of the financial services provider’s stock valued at $10,293,000 after buying an additional 535 shares in the last quarter. Insight Inv LLC lifted its position in JPMorgan Chase & Co. by 0.5% in the fourth quarter. Insight Inv LLC now owns 14,046 shares of the financial services provider’s stock valued at $2,389,000 after acquiring an additional 75 shares during the last quarter. Bell Bank boosted its stake in JPMorgan Chase & Co. by 3.9% in the fourth quarter. Bell Bank now owns 16,192 shares of the financial services provider’s stock valued at $2,754,000 after acquiring an additional 602 shares in the last quarter. My Personal CFO LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.0% during the fourth quarter. My Personal CFO LLC now owns 2,999 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 116 shares during the last quarter. Finally, Black Swift Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $3,115,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group increased their price objective on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Finally, Evercore ISI lifted their target price on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock traded up $0.06 during trading hours on Wednesday, hitting $200.40. The company’s stock had a trading volume of 9,115,523 shares, compared to its average volume of 9,326,985. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $217.56. The stock has a market cap of $575.48 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 2.42 and a beta of 1.12. The business has a fifty day moving average of $203.42 and a 200-day moving average of $193.77.

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

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Insider Buying and Selling

In other news, insider Robin Leopold sold 3,000 shares of JPMorgan Chase & Co. stock in a transaction on Friday, May 10th. The stock was sold at an average price of $198.86, for a total value of $596,580.00. Following the completion of the sale, the insider now owns 44,113 shares of the company’s stock, valued at $8,772,311.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Robin Leopold sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $198.86, for a total value of $596,580.00. Following the sale, the insider now directly owns 44,113 shares of the company’s stock, valued at $8,772,311.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the 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 in the company, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,533 shares of company stock worth $5,907,336. 0.79% of the stock is owned by insiders.

About JPMorgan Chase & Co.

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.