Aspen Capital Management LLC Invests $1.05 Million in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Aspen Capital Management LLC has purchased a new stake in JPMorgan Chase & Co., acquiring 4,280 shares valued at approximately $1,050,000.
• JPMorgan Chase recently reported earnings of $4.96 per share, exceeding analyst expectations, despite a 10.5% year-over-year decrease in revenue.
• The company declared a quarterly dividend of $1.40 per share, representing an annualized dividend yield of 1.88%.

Aspen Capital Management LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,280 shares of the financial services provider's stock, valued at approximately $1,050,000.

A number of other institutional investors also recently bought and sold shares of the company. OneAscent Financial Services LLC increased its stake in JPMorgan Chase & Co. by 4.9% in the first quarter. OneAscent Financial Services LLC now owns 20,105 shares of the financial services provider's stock valued at $4,909,000 after purchasing an additional 933 shares during the last quarter. Morse Asset Management Inc boosted its position in shares of JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after buying an additional 420 shares during the period. CBIZ Investment Advisory Services LLC boosted its position in shares of JPMorgan Chase & Co. by 122.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 2,784 shares of the financial services provider's stock worth $683,000 after buying an additional 1,533 shares during the period. Counterweight Ventures LLC boosted its position in shares of JPMorgan Chase & Co. by 2.5% in the first quarter. Counterweight Ventures LLC now owns 16,099 shares of the financial services provider's stock worth $3,949,000 after buying an additional 390 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 35.7% in the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 2,174 shares of the financial services provider's stock valued at $533,000 after purchasing an additional 572 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Down 0.3%

Shares of NYSE:JPM traded down $0.75 during midday trading on Tuesday, hitting $297.53. 2,357,746 shares of the stock were exchanged, compared to its average volume of 10,061,427. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $301.29. The business's fifty day simple moving average is $278.35 and its two-hundred day simple moving average is $260.40. The company has a market capitalization of $826.87 billion, a PE ratio of 15.27, a P/E/G ratio of 2.01 and a beta of 1.10.

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

JPMorgan Chase & Co. Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.88%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.73%.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of analyst reports. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Truist Financial increased their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Baird R W cut JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday, June 27th. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction dated 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 transaction, the general counsel directly owned 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a 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 completion of the transaction, 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. Insiders have sold 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 corporate insiders.

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.