Grove Bank & Trust Acquires 2,808 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Grove Bank & Trust boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,209 shares of the financial services provider's stock after purchasing an additional 2,808 shares during the quarter. JPMorgan Chase & Co. comprises 1.0% of Grove Bank & Trust's portfolio, making the stock its 23rd biggest holding. Grove Bank & Trust's holdings in JPMorgan Chase & Co. were worth $7,656,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in JPM. Redwood Park Advisors LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $29,000. Curat Global LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter valued at approximately $33,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $37,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on JPM. Morgan Stanley reiterated an "equal weight" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI dropped their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Finally, TD Cowen began coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus target price of $271.70.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $273.83 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day moving average price of $254.66 and a 200 day moving average price of $251.00. The firm has a market capitalization of $760.98 billion, a P/E ratio of 13.44, a P/E/G ratio of 2.72 and a beta of 1.08. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $280.25.

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

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares of the company's stock, valued at approximately $12,130,438.84. The trade was a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,722 shares of company stock valued at $25,599,477 in the last ninety days. Corporate insiders own 0.47% of the company's stock.

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.

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