Crestwood Advisors Group LLC Increases Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Crestwood Advisors Group LLC increased its stake in JPMorgan Chase & Co. by 1.9% during the first quarter, now owning 251,690 shares valued at approximately $61.74 million.
• The firm reported a net margin of 20.52% and earnings of $4.96 per share, exceeding estimates; however, this is a decline compared to the previous year.
• The company declared a quarterly dividend of $1.40 per share, which translates to an annual yield of 1.88%.

Crestwood Advisors Group LLC grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 251,690 shares of the financial services provider's stock after buying an additional 4,624 shares during the quarter. JPMorgan Chase & Co. accounts for 1.2% of Crestwood Advisors Group LLC's investment portfolio, making the stock its 25th largest holding. Crestwood Advisors Group LLC's holdings in JPMorgan Chase & Co. were worth $61,739,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of JPM. Geode Capital Management LLC increased its holdings in shares of 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 in the last quarter. Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $8,310,884,000. Northern Trust Corp increased its holdings in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock valued at $6,083,723,000 after acquiring an additional 454,226 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.6%

NYSE JPM opened at $298.46 on Friday. The company's fifty day simple moving average is $277.68 and its 200-day simple moving average is $259.88. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $299.59. 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 $829.45 billion, a P/E ratio of 15.31, a PEG ratio of 2.02 and a beta of 1.10.

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 (EPS) for the quarter, beating the consensus estimate of $4.48 by $0.48. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $6.12 earnings per share. Equities research analysts predict 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. Investors of record on Thursday, July 3rd will be issued 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 1.88%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the business's 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 sale, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. The trade was a 3.94% decrease in their position. 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 ninety days. 0.47% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

JPM has been the subject of several recent research reports. UBS Group raised their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Truist Financial raised their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research report on Wednesday, July 9th. Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a research report on Monday, July 7th. Finally, TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

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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