Meyer Handelman Co. Buys 1,043 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Meyer Handelman Co. increased its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 299,544 shares of the financial services provider's stock after purchasing an additional 1,043 shares during the quarter. JPMorgan Chase & Co. makes up 2.6% of Meyer Handelman Co.'s holdings, making the stock its 8th largest position. Meyer Handelman Co.'s holdings in JPMorgan Chase & Co. were worth $73,478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock valued at $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $8,310,884,000. Northern Trust Corp raised its holdings in shares of JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. GAMMA Investing LLC raised its holdings in shares of JPMorgan Chase & Co. by 25,861.9% in the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock valued at $5,475,223,000 after purchasing an additional 1,914,049 shares during the period. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,272 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares in the company, valued at approximately $12,400,164.91. This trade represents a 7.84% 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 stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares in the company, valued at $32,947,774.62. This represents a 15.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,594 shares of company stock worth $23,991,061. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded down $0.40 during mid-day trading on Friday, hitting $263.97. 10,976,619 shares of the company's stock were exchanged, compared to its average volume of 9,564,755. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The stock's 50-day simple moving average is $245.86 and its 200-day simple moving average is $249.19. The firm has a market cap of $733.60 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same period last year, the firm earned $4.44 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. JPMorgan Chase & Co.'s dividend payout ratio is 27.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $235.00 to $236.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Bank of America lowered their price target on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Truist Financial set a $270.00 price target on shares of JPMorgan Chase & Co. in a report on Friday, May 23rd. Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Piper Sandler reissued an "overweight" rating and issued a $295.00 price target (up from $260.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $266.65.

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.