61,700 Shares in JPMorgan Chase & Co. (NYSE:JPM) Bought by Covea Finance

Covea Finance bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 61,700 shares of the financial services provider's stock, valued at approximately $15,135,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $8,310,884,000. Northern Trust Corp lifted its stake in shares of JPMorgan Chase & Co. by 15.4% in the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC boosted its position in JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after acquiring an additional 23,465,278 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in JPMorgan Chase & Co. by 9.1% during the fourth quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after acquiring an additional 1,914,049 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.0%

JPM traded up $2.91 during mid-day trading on Tuesday, hitting $281.18. 9,263,249 shares of the stock were exchanged, compared to its average volume of 9,492,035. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $282.72. The company has a market cap of $781.42 billion, a PE ratio of 13.80, a PEG ratio of 2.59 and a beta of 1.08. The firm's fifty day moving average is $258.21 and its two-hundred day moving average is $251.92.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The company had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.44 earnings per share. Equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.99%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the sale, the chief operating officer now owns 68,583 shares of the company's stock, valued at $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer now directly owns 18,017 shares of the company's stock, 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 worth $18,060,015 in the last quarter. Company insiders own 0.47% of the company's stock.

Analyst Ratings Changes

JPM has been the topic of a number of research reports. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Piper Sandler reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. TD Cowen began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a "buy" rating and a $305.00 price objective on the stock. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 10th. Finally, Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $271.90.

JPMorgan Chase & Co. Company 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.