Palumbo Wealth Management LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,617 shares of the financial services provider’s stock after purchasing an additional 205 shares during the period. Palumbo Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,850,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in JPM. Fourth Dimension Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $471,000. Disciplined Investments LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at $217,000. LGT Group Foundation grew its position in 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 valued at $126,040,000 after purchasing an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. increased its stake in JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,375 shares during the last quarter. Finally, Jag Capital Management LLC lifted its position in JPMorgan Chase & Co. by 10.5% during the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after buying an additional 140 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on JPM shares. Piper Sandler restated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. KGI Securities started coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating on the stock. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, June 10th. Finally, UBS Group raised their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. 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 company currently has an average rating of “Hold” and an average target price of $273.15.
JPMorgan Chase & Co. Price Performance
Shares of NYSE JPM opened at $288.88 on Friday. The firm has a market cap of $802.81 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 2.64 and a beta of 1.08. The business’s 50 day moving average is $260.44 and its 200-day moving average is $252.45. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $289.41.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share 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 last year, the business earned $4.44 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.
Insiders Place Their Bets
In other news, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer now directly owns 18,017 shares of the company’s stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 2,821 shares of the firm’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the transaction, the general counsel now owns 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last quarter. 0.47% of the stock is currently owned by corporate insiders.
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.
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