Red Door Wealth Management LLC Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Red Door Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the first quarter, Holdings Channel.com reports. The fund owned 72,225 shares of the financial services provider’s stock after acquiring an additional 2,555 shares during the period. JPMorgan Chase & Co. comprises 2.6% of Red Door Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. Red Door Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $17,717,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. WASHINGTON TRUST Co increased its stake in JPMorgan Chase & Co. by 16.5% during the 1st quarter. WASHINGTON TRUST Co now owns 220,937 shares of the financial services provider’s stock worth $54,196,000 after acquiring an additional 31,261 shares during the period. Insight Inv LLC increased its stake in shares of JPMorgan Chase & Co. by 111.8% in the 1st quarter. Insight Inv LLC now owns 29,376 shares of the financial services provider’s stock valued at $7,206,000 after purchasing an additional 15,504 shares during the last quarter. Nabity Jensen Investment Management Inc increased its stake in shares of JPMorgan Chase & Co. by 1.6% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 6,991 shares of the financial services provider’s stock valued at $1,715,000 after purchasing an additional 107 shares during the last quarter. Argent Advisors Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.0% in the 1st quarter. Argent Advisors Inc. now owns 29,378 shares of the financial services provider’s stock valued at $7,206,000 after purchasing an additional 572 shares during the last quarter. Finally, Custos Family Office LLC increased its stake in shares of JPMorgan Chase & Co. by 20.6% in the 1st quarter. Custos Family Office LLC now owns 1,372 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jennifer Piepszak sold 6,129 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the transaction, the chief operating officer directly owned 68,583 shares of the company’s stock, valued at $17,197,873.08. The trade was a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock valued at $18,060,015 in the last three months. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $296.13 on Friday. The firm has a market cap of $822.96 billion, a PE ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. 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 business has a 50 day moving average of $266.97 and a 200-day moving average of $254.73. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data 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 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 analyst estimates of $43.62 billion. During the same period in the prior year, the company earned $4.44 earnings per share. JPMorgan Chase & Co.’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JPM shares. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. UBS Group raised their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Bank of America raised 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. Finally, Evercore ISI raised their target price on JPMorgan Chase & Co. from $280.00 to $298.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $277.74.

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.