JPMorgan Chase & Co. (NYSE:JPM) is Blodgett Wealth Advisors LLC’s 10th Largest Position

Blodgett Wealth Advisors LLC raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 11,013 shares of the financial services provider’s stock after purchasing an additional 251 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.3% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Blodgett Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $2,702,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $471,000. Disciplined Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $217,000. LGT Group Foundation boosted its position in shares of JPMorgan Chase & Co. by 2.8% in the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock worth $126,040,000 after acquiring an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after acquiring an additional 4,375 shares during the last quarter. Finally, Jag Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after acquiring an additional 140 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 2.0%

JPM opened at $270.21 on Tuesday. The firm has a market capitalization of $750.93 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.83 and a beta of 1.08. The firm’s 50 day moving average is $253.18 and its 200-day moving average is $250.71. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $4.44 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.07%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

JPM has been the topic of several research analyst reports. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a research report on Monday, June 2nd. Royal Bank of Canada reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Morgan Stanley reissued an “equal weight” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Finally, Robert W. Baird lifted their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $269.65.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,272 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the completion of the sale, the chief operating officer now owns 50,197 shares in the company, valued at approximately $12,400,164.91. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This trade represents a 15.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,722 shares of company stock worth $25,599,477. Insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.