Naviter Wealth LLC Has $7.11 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Naviter Wealth LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% during the first quarter, Holdings Channel reports. The fund owned 29,260 shares of the financial services provider’s stock after acquiring an additional 537 shares during the quarter. JPMorgan Chase & Co. comprises about 0.9% of Naviter Wealth LLC’s holdings, making the stock its 23rd biggest holding. Naviter Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $7,106,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in JPM. Stonebridge Financial Group LLC increased its stake in shares of JPMorgan Chase & Co. by 545.0% during the first quarter. Stonebridge Financial Group LLC now owns 27,503 shares of the financial services provider’s stock worth $6,746,000 after purchasing an additional 23,239 shares during the period. Emerald Advisors LLC increased its position in JPMorgan Chase & Co. by 18.1% during the 1st quarter. Emerald Advisors LLC now owns 3,793 shares of the financial services provider’s stock worth $930,000 after buying an additional 582 shares during the period. Goodman Advisory Group LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter worth about $76,000. Cohen Investment Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 1,993.3% during the first quarter. Cohen Investment Advisors LLC now owns 464,662 shares of the financial services provider’s stock worth $113,982,000 after purchasing an additional 442,464 shares during the period. Finally, Joel Isaacson & Co. LLC raised its position in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Joel Isaacson & Co. LLC now owns 51,603 shares of the financial services provider’s stock valued at $12,658,000 after buying an additional 2,099 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, the general counsel owned 68,757 shares of the company’s stock, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares in the company, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on JPM shares. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Bank of America upped their target price on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Piper Sandler reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $277.74.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $296.13 on Friday. 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 company has a market capitalization of $822.96 billion, a PE ratio of 14.54, a PEG ratio of 2.75 and a beta of 1.10. The stock’s 50 day moving average price is $266.97 and its 200-day moving average price is $254.56. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $4.44 EPS. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 1.89%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

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.