Summit Asset Management LLC Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Summit Asset Management LLC increased its stake in JPMorgan Chase & Co. by 14.2%, bringing their total holdings to 10,458 shares valued at approximately $2.57 million.
• Wall Street analysts show mixed ratings for JPMorgan Chase & Co., with three sell ratings, seven hold ratings, and thirteen buy ratings, leading to a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $1.40 per share, leading to an annualized dividend yield of 1.88%.

Summit Asset Management LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,458 shares of the financial services provider's stock after buying an additional 1,300 shares during the period. Summit Asset Management LLC's holdings in JPMorgan Chase & Co. were worth $2,565,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $43,000. Institutional investors own 71.55% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on JPM. HSBC reissued a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Hsbc Global Res cut shares of JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded down $5.58 during mid-day trading on Friday, reaching $290.67. The company's stock had a trading volume of 4,934,426 shares, compared to its average volume of 10,082,008. 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 $807.79 billion, a P/E ratio of 14.90, a PEG ratio of 2.02 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The firm's fifty day moving average price is $280.47 and its two-hundred day moving average price is $261.28.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The business had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the business earned $6.12 EPS. JPMorgan Chase & Co.'s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors 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 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is currently 28.73%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the transaction, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the transaction, the director owned 91,539 shares of the company's stock, valued at $22,884,750. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock valued at $18,060,015 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

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.