Richmond Investment Services LLC Buys New Shares in JPMorgan Chase & Co. (NYSE:JPM)

Richmond Investment Services LLC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,050 shares of the financial services provider's stock, valued at approximately $252,000.

A number of other hedge funds have also bought and sold shares of JPM. Geode Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after buying an additional 876,417 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $8,310,884,000. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of 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 purchasing an additional 1,914,049 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider's stock valued at $4,818,905,000 after purchasing an additional 71,122 shares during the last quarter. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 1.7%

Shares of NYSE JPM traded up $4.41 during midday trading on Tuesday, reaching $265.12. The stock had a trading volume of 7,457,216 shares, compared to its average volume of 9,577,106. The firm has a market cap of $736.79 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The company's 50 day moving average price is $244.31 and its 200 day moving average price is $248.58.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.44 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given 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 2.11%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now owns 133,381 shares in the company, valued at $32,947,774.62. The trade was a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jennifer Piepszak sold 4,272 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the transaction, the chief operating officer now owns 50,197 shares in the company, valued at $12,400,164.91. The trade was a 7.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,594 shares of company stock worth $23,991,061. Company insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Cowen reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a "hold" rating on the stock. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $285.00 target price (up from $255.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $266.65.

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.