Ridgecrest Wealth Partners LLC Has $1.93 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Ridgecrest Wealth Partners LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,854 shares of the financial services provider’s stock after buying an additional 497 shares during the quarter. JPMorgan Chase & Co. makes up about 1.0% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 23rd largest position. Ridgecrest Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of JPM. Fourth Dimension Wealth LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $471,000. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $217,000. LGT Group Foundation raised its stake 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. lifted its position in shares of JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock worth $10,483,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Jag Capital Management LLC grew its stake in shares of JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction 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 completion of the transaction, the general counsel now owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, June 5th. The shares were 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 owns 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 over the last three months. Company insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Truist Financial increased their price objective on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a research report on Monday, June 2nd. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a “buy” rating and a $305.00 target price on the stock. Finally, Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and an average price target of $271.90.

JPMorgan Chase & Co. Trading Up 1.0%

NYSE:JPM opened at $284.14 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50-day simple moving average is $259.29 and its 200-day simple moving average is $252.14. JPMorgan Chase & Co. has a fifty-two week low of $190.90 and a fifty-two week high of $284.28. The stock has a market capitalization of $789.65 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 2.63 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the prior year, the company earned $4.44 earnings per share. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

JPMorgan Chase & Co. 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.