JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its stake in JPMorgan Chase & Co. by 4.0%, owning 638,862 shares valued at approximately $156.71 million.
• Institutional investors currently hold 71.55% of JPMorgan Chase & Co. stock, highlighting significant institutional interest in the company.
• JPMorgan Chase recently announced a quarterly dividend of $1.40 per share, reflecting an annualized yield of 1.87%.

Assetmark Inc. raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 638,862 shares of the financial services provider's stock after buying an additional 24,296 shares during the quarter. Assetmark Inc.'s holdings in JPMorgan Chase & Co. were worth $156,713,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Florida Financial Advisors LLC boosted its holdings in shares of JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $471,000. Crown Wealth Group LLC boosted its holdings in 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 acquiring an additional 222 shares during the last quarter. Morse Asset Management Inc boosted its holdings in 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 valued at $630,000 after acquiring an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its holdings in 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 acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 2.4%

JPMorgan Chase & Co. stock traded down $7.03 during midday trading on Friday, hitting $289.21. The stock had a trading volume of 12,005,470 shares, compared to its average volume of 8,727,902. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The stock has a market cap of $803.74 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.00 and a beta of 1.11. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $301.29. The business has a fifty day moving average price of $280.47 and a 200 day moving average price of $261.28.

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 for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $6.12 earnings per share. Research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Bank of America boosted their price objective on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Piper Sandler restated an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by 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.