933 Shares in JPMorgan Chase & Co. (NYSE:JPM) Purchased by Conservest Capital Advisors Inc.

Key Points

• Conservest Capital Advisors Inc. acquired a new position in JPMorgan Chase & Co., purchasing 933 shares valued at approximately $229,000 in the first quarter.
• Several hedge funds have also increased their stakes in JPMorgan, with Florida Financial Advisors LLC boosting their position by 62.5%.
• JPMorgan Chase reported a quarterly earnings of $4.96 per share, exceeding analyst estimates, despite a 10.5% year-over-year decline in revenue.

Conservest Capital Advisors Inc. purchased a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 933 shares of the financial services provider's stock, valued at approximately $229,000.

A number of other hedge funds have also bought and sold shares of JPM. Florida Financial Advisors LLC increased its position in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after buying an additional 3,792 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC increased its stake in shares of JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares during the period. Hidden Cove Wealth Management LLC increased its stake in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares during the period. Finally, Aaron Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 6.4% in the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider's stock valued at $4,953,000 after purchasing an additional 1,218 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JPM has been the topic of several analyst reports. KGI Securities initiated coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They issued a "hold" rating on the stock. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target on the stock. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Finally, Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 in the last 90 days. 0.47% of the stock is owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $298.46 on Friday. The firm has a fifty day simple moving average of $277.68 and a 200-day simple moving average of $259.76. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $299.59. The stock has a market capitalization of $829.45 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.01 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to analysts' expectations of $43.76 billion. During the same period in the previous year, the company earned $6.12 earnings per share. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.88%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

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.

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