Hofer & Associates. Inc Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Hofer & Associates. Inc lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,169 shares of the financial services provider’s stock after purchasing an additional 161 shares during the period. JPMorgan Chase & Co. comprises about 0.9% of Hofer & Associates. Inc’s holdings, making the stock its 28th largest position. Hofer & Associates. Inc’s holdings in JPMorgan Chase & Co. were worth $1,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its position in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $8,310,884,000. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC increased its position in JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors raised its stake 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 valued at $5,475,223,000 after acquiring an additional 1,914,049 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JPM. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research note on Friday. Truist Financial lifted their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a research report on Monday, June 2nd. UBS Group upped their price objective 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. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 target price on the stock. Finally, Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and an average price target of $273.15.

JPMorgan Chase & Co. Stock Down 0.5%

JPM opened at $287.31 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $798.45 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 2.69 and a beta of 1.08. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $289.41. The business’s fifty day moving average is $261.55 and its two-hundred day moving average is $252.76.

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 (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 business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the company posted $4.44 EPS. The business’s revenue was up 8.0% on a year-over-year basis. Analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm 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. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the sale, the chief operating officer now owns 68,583 shares of the company’s stock, valued at $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

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.