Deltec Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 259.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,925 shares of the financial services provider’s stock after purchasing an additional 5,000 shares during the period. Deltec Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,699,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock valued at $14,161,171,000 after acquiring an additional 876,417 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. during the 4th quarter worth $8,310,884,000. Northern Trust Corp raised its position in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC grew its holdings in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors grew its holdings in JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares during the period. 71.55% of the stock is currently owned by institutional investors.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. stock opened at $278.46 on Tuesday. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $280.25. The company’s 50 day moving average price is $257.24 and its two-hundred day moving average price is $251.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The stock has a market cap of $773.87 billion, a P/E ratio of 13.67, a P/E/G ratio of 2.57 and a beta of 1.08.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.01%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on JPM. Evercore ISI reduced their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Truist Financial raised their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a research note on Monday, June 2nd. TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, June 10th. Finally, UBS Group raised their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $271.90.
Check Out Our Latest Stock Analysis on JPM
Insider Buying and Selling
In related news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the sale, the general counsel now owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer now directly owns 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by company insiders.
About JPMorgan Chase & Co.
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.
Further Reading
- Five stocks we like better than JPMorgan Chase & Co.
- What is Insider Trading? What You Can Learn from Insider Trading
- Microsoft Stock Holds Steady as AI Drives Workforce Shift
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- D-Wave Goes International With South Korea Partnership
- With Risk Tolerance, One Size Does Not Fit All
- Payment Giants Slide on Stablecoin Buzz—Is Now the Time to Buy?
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Free Report).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.