Federated Hermes Inc. Purchases 233,777 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Federated Hermes Inc. raised its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 58.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 634,004 shares of the financial services provider's stock after acquiring an additional 233,777 shares during the quarter. Federated Hermes Inc.'s holdings in JPMorgan Chase & Co. were worth $155,521,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wimmer Associates 1 LLC boosted its position in JPMorgan Chase & Co. by 1.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after purchasing an additional 40 shares during the last quarter. Twin Lakes Capital Management LLC increased its holdings in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider's stock worth $3,340,000 after buying an additional 40 shares during the last quarter. First Command Advisory Services Inc. raised its position in JPMorgan Chase & Co. by 0.4% in the first quarter. First Command Advisory Services Inc. now owns 9,306 shares of the financial services provider's stock worth $2,283,000 after acquiring an additional 40 shares during the period. Black Swift Group LLC grew its position in shares of JPMorgan Chase & Co. by 0.7% during the 1st quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock valued at $1,413,000 after acquiring an additional 40 shares during the period. Finally, Beacon Bridge Wealth Partners LLC increased its stake in shares of JPMorgan Chase & Co. by 1.8% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock worth $547,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on JPM shares. Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. TD Cowen began 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 on the stock. Citigroup set a $275.00 price objective on JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Truist Financial lifted their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Activity

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares in the company, valued at $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,557 shares of company stock worth $4,113,796 over the last ninety days. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Price Performance

JPM stock traded up $0.07 during trading on Wednesday, reaching $291.44. The company's stock had a trading volume of 6,326,839 shares, compared to its average volume of 10,062,375. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The company's fifty day moving average is $282.23 and its 200-day moving average is $262.14. The company has a market capitalization of $809.93 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $200.20 and a 1 year high of $301.29.

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 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.12 EPS. On average, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued 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 payout ratio is 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.