CBIZ Investment Advisory Services LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• CBIZ Investment Advisory Services LLC increased its stake in JPMorgan Chase & Co. by 122.5% during the first quarter, acquiring an additional 1,533 shares, bringing its total holdings to 2,784 shares worth approximately $683,000.
• JPMorgan Chase reported $4.96 EPS in its latest earnings announcement, exceeding the consensus estimate of $4.48, although revenue decreased by 10.5% year-over-year.
• The company declared a quarterly dividend of $1.40 per share, translating to an annualized dividend yield of 1.88%, with a payout ratio of 28.73%.

CBIZ Investment Advisory Services LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 122.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,784 shares of the financial services provider's stock after acquiring an additional 1,533 shares during the period. JPMorgan Chase & Co. comprises 0.2% of CBIZ Investment Advisory Services LLC's portfolio, making the stock its 17th largest position. CBIZ Investment Advisory Services LLC's holdings in JPMorgan Chase & Co. were worth $683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at about $29,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the first quarter worth about $33,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. 71.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. HSBC reiterated a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Truist Financial lifted their target price 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. Finally, Hsbc Global Res lowered shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and an average target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the transaction, the general counsel owned 68,757 shares in the company, valued at $18,269,422.47. This trade represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director owned 91,539 shares in the company, valued at $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded down $0.75 during trading hours on Tuesday, reaching $297.53. The company had a trading volume of 2,357,746 shares, compared to its average volume of 10,061,427. 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 52 week low of $190.90 and a 52 week high of $301.29. The firm has a market cap of $826.87 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 2.01 and a beta of 1.10. The firm's 50 day moving average price is $278.35 and its 200-day moving average price is $260.40.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS 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 the consensus estimate of $43.76 billion. During the same quarter in the previous year, the firm posted $6.12 EPS. The firm's revenue was down 10.5% on a year-over-year basis. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

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.