JPMorgan Chase & Co. (NYSE:JPM) Stake Lifted by Narwhal Capital Management

Narwhal Capital Management raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.8% during the 1st quarter, HoldingsChannel reports. The firm owned 130,585 shares of the financial services provider’s stock after acquiring an additional 4,815 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.9% of Narwhal Capital Management’s portfolio, making the stock its 8th largest position. Narwhal Capital Management’s holdings in JPMorgan Chase & Co. were worth $32,033,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in JPM. Walkner Condon Financial Advisors LLC increased its position in shares of JPMorgan Chase & Co. by 5.8% during the first quarter. Walkner Condon Financial Advisors LLC now owns 3,450 shares of the financial services provider’s stock worth $846,000 after acquiring an additional 189 shares during the last quarter. Eagle Strategies LLC increased its position in shares of JPMorgan Chase & Co. by 3.9% during the first quarter. Eagle Strategies LLC now owns 5,460 shares of the financial services provider’s stock worth $1,339,000 after acquiring an additional 203 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of JPMorgan Chase & Co. by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 397,818 shares of the financial services provider’s stock worth $97,585,000 after acquiring an additional 32,782 shares during the last quarter. Vantage Point Financial LLC increased its position in shares of JPMorgan Chase & Co. by 27.5% during the first quarter. Vantage Point Financial LLC now owns 1,367 shares of the financial services provider’s stock worth $335,000 after acquiring an additional 295 shares during the last quarter. Finally, Three Cord True Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 9.5% during the first quarter. Three Cord True Wealth Management LLC now owns 920 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 80 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. UBS Group lifted their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. KGI Securities started coverage on JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a “hold” rating for the company. TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Wells Fargo & Company lifted 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, Cowen restated 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 issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average target price of $273.15.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer now owns 18,017 shares of the company’s stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer now directly owns 62,455 shares in the company, valued at $16,392,563.85. This represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $288.88 on Friday. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $289.41. The stock has a market cap of $802.81 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.64 and a beta of 1.08. The stock’s 50 day moving average price is $260.44 and its 200 day moving average price is $252.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

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.