Empirical Finance LLC Acquires 1,054 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Empirical Finance LLC increased its holdings in JPMorgan Chase & Co. by 1.1%, acquiring an additional 1,054 shares, bringing its total to 100,899 shares, valued at approximately $24.75 million.
• Insider sales include COO Jennifer Piepszak selling 6,129 shares for about $1.54 million, marking an 8.20% decrease in her ownership.
• JPMorgan Chase & Co. reported a quarterly EPS of $4.96, exceeding analyst expectations, but revenue was down 10.5% year-over-year.

Empirical Finance LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,899 shares of the financial services provider's stock after purchasing an additional 1,054 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.5% of Empirical Finance LLC's portfolio, making the stock its 9th largest holding. Empirical Finance LLC's holdings in JPMorgan Chase & Co. were worth $24,751,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter worth approximately $29,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter worth $33,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $37,000. Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $44,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total value of $1,536,908.04. Following the transaction, the chief operating officer directly owned 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 SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 6,608 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 $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. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on JPM. Wells Fargo & Company raised their price target 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. UBS Group raised their price target 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. 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. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Three 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $288.68.

JPMorgan Chase & Co. Stock Down 2.4%

NYSE JPM opened at $289.21 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The company's 50 day simple moving average is $281.04 and its 200 day simple moving average is $261.57. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $301.29. The company has a market capitalization of $803.74 billion, a P/E ratio of 14.84, a PEG ratio of 2.00 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released 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. The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $6.12 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 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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