IFG Advisory LLC Buys 1,476 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• IFG Advisory LLC increased its stake in JPMorgan Chase & Co. by 5.2%, owning a total of 29,695 shares valued at approximately $7.28 million after purchasing an additional 1,476 shares in the first quarter.
• Insider trading activity included COO Jennifer Piepszak selling 6,128 shares for around $1.61 million, and General Counsel Stacey Friedman selling 6,608 shares for approximately $1.76 million, which indicates a decrease in their positions.
• JPMorgan Chase & Co. reported earnings of $4.96 per share for the last quarter, outperforming analysts' expectations, with a total revenue of $44.91 billion, although this marked a decrease compared to the previous year.

IFG Advisory LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,695 shares of the financial services provider's stock after purchasing an additional 1,476 shares during the quarter. IFG Advisory LLC's holdings in JPMorgan Chase & Co. were worth $7,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of JPM. Wimmer Associates 1 LLC grew its position in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider's stock worth $986,000 after buying an additional 40 shares during the period. Twin Lakes Capital Management LLC boosted its stake 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 acquiring an additional 40 shares in the last quarter. First Command Advisory Services Inc. grew its holdings 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 purchasing an additional 40 shares during the period. Black Swift Group LLC grew its holdings in JPMorgan Chase & Co. by 0.7% in the first quarter. Black Swift Group LLC now owns 5,759 shares of the financial services provider's stock worth $1,413,000 after purchasing an additional 40 shares during the period. Finally, Beacon Bridge Wealth Partners LLC increased its stake in JPMorgan Chase & Co. by 1.8% in the first quarter. Beacon Bridge Wealth Partners LLC now owns 2,231 shares of the financial services provider's stock valued at $547,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction that occurred 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. This trade represents a 8.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the general counsel directly owned 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,557 shares of company stock worth $4,113,796. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the stock a "buy" rating in a report on Monday, July 7th. Phillip Securities cut JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Finally, HSBC reiterated a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned 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 currently has an average rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $287.03 on Friday. The business's fifty day simple moving average is $283.24 and its 200 day simple moving average is $262.53. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $200.61 and a 12 month high of $301.29. The firm has a market capitalization of $797.67 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm posted $6.12 EPS. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.