JPMorgan Chase & Co. (NYSE:JPM) Holdings Trimmed by Orion Portfolio Solutions LLC
Orion Portfolio Solutions LLC Trims Position in JPMorgan Chase & Co. (NYSE:JPM)
In a recent filing with the Securities and Exchange Commission (SEC), Orion Portfolio Solutions LLC disclosed that it has trimmed its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.6% during the 1st quarter. The firm sold 8,092 shares, bringing its total holdings to 216,425 shares valued at $43,350,000.
This move comes as several other hedge funds have also made changes to their positions in JPM. Capital International Investors, Norges Bank, Dimensional Fund Advisors LP, Charles Schwab Investment Management Inc., and Fisher Asset Management LLC have all increased their holdings in JPMorgan Chase & Co. in recent quarters.
JPMorgan Chase & Co. stock has been performing well, with shares up 0.0% and trading at $209.85 on Monday. The company reported strong quarterly earnings results, beating analysts’ consensus estimates and posting a net margin of 20.32% and a return on equity of 17.26%.
Additionally, JPMorgan Chase & Co. recently announced a quarterly dividend of $1.15 per share, representing a $4.60 annualized dividend and a yield of 2.19%. The company’s dividend payout ratio is currently 25.66%.
In terms of insider activity, Ashley Bacon, the company’s insider, sold 5,086 shares of JPMorgan Chase & Co. stock, while CEO Mary E. Erdoes sold 15,895 shares. In total, insiders have sold 72,343 shares of company stock in the last quarter.
Analysts have been bullish on JPMorgan Chase & Co., with several firms upping their price targets and issuing buy ratings for the stock. The company has an average rating of “Moderate Buy” and a consensus target price of $202.89.
Overall, JPMorgan Chase & Co. continues to be a strong performer in the financial services sector, with positive earnings, dividend payouts, and analyst recommendations. Investors will be keeping a close eye on the company’s future performance and strategic moves in the market.