Bar Harbor Wealth Management Has $17.63 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Bar Harbor Wealth Management cut its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,144 shares of the financial services provider’s stock after selling 1,609 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of Bar Harbor Wealth Management’s investment portfolio, making the stock its 20th largest holding. Bar Harbor Wealth Management’s holdings in JPMorgan Chase & Co. were worth $17,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital International Investors raised its position in JPMorgan Chase & Co. by 1.9% during the first quarter. Capital International Investors now owns 42,294,992 shares of the financial services provider’s stock valued at $8,471,687,000 after acquiring an additional 778,297 shares in the last quarter. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $6,016,878,000. Capital World Investors raised its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 1st quarter. Capital World Investors now owns 34,422,011 shares of the financial services provider’s stock valued at $6,894,729,000 after purchasing an additional 150,812 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of JPMorgan Chase & Co. by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,338,704 shares of the financial services provider’s stock valued at $3,629,757,000 after purchasing an additional 695,502 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,170,399 shares of the financial services provider’s stock worth $3,389,329,000 after purchasing an additional 154,426 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the transaction, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at $8,452,180.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lori A. Beer sold 5,298 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.64, for a total value of $1,062,990.72. Following the transaction, the insider now owns 46,375 shares of the company’s stock, valued at $9,304,680. The disclosure for this sale can be found here. Insiders have sold a total of 14,799 shares of company stock worth $2,963,721 in the last three months. Insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on JPM. Piper Sandler raised their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Oppenheimer raised their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.71.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $214.07 on Friday. 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 company has a 50-day moving average of $204.67 and a 200-day moving average of $195.43. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $217.56. The company has a market capitalization of $614.74 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 2.42 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS 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 firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. During the same quarter last year, the company earned $4.37 earnings per share. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.78 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

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.