Close Asset Management Ltd Boosts Position in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Close Asset Management Ltd increased its holdings in JPMorgan Chase & Co. by 13.1%, owning a total of 65,715 shares valued at $16.1 million as of the end of the first quarter.
• Insider trading revealed that JPMorgan executives sold a total of 71,200 shares worth over $18 million in the last three months, indicating a potential shift in sentiment among company leaders.
• Analysts have set mixed price targets for JPMorgan Chase, with a range from a low of $259 to a high of $325, while the average rating remains a "Moderate Buy."

Close Asset Management Ltd raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,715 shares of the financial services provider's stock after acquiring an additional 7,599 shares during the period. Close Asset Management Ltd's holdings in JPMorgan Chase & Co. were worth $16,118,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 2,821 shares of JPMorgan Chase & Co. 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 $749,567.91. Following the transaction, the general counsel owned 68,757 shares in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction on 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 transaction, the chief financial officer directly owned 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,200 shares of company stock valued at $18,060,015 over the last ninety days. 0.47% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

JPM has been the subject of several analyst reports. TD Cowen assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. HSBC reiterated a "reduce" rating and issued a $259.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. KGI Securities began coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Finally, Wells Fargo & Company lifted their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $298.22 on Tuesday. The company has a fifty day simple moving average of $278.35 and a 200-day simple moving average of $260.40. The firm has a market capitalization of $828.78 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 2.01 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 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 $299.59.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $44.91 billion for the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. 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 business posted $6.12 earnings per share. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business 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 1.88%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 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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