BKM Wealth Management LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,296 shares of the financial services provider's stock after buying an additional 961 shares during the period. JPMorgan Chase & Co. makes up about 1.7% of BKM Wealth Management LLC's investment portfolio, making the stock its 10th biggest position. BKM Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $4,243,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake 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 worth $14,161,171,000 after buying an additional 876,417 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth $8,310,884,000. Northern Trust Corp raised its holdings in 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 worth $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Bank of New York Mellon Corp raised its holdings in JPMorgan Chase & Co. by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the period. Finally, GAMMA Investing LLC raised its holdings in 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 worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the transaction, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was 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 owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently commented on JPM shares. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, July 7th. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a report on Tuesday, July 8th. Piper Sandler reaffirmed an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Finally, Bank of America raised their target price on JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $288.68.
Get Our Latest Stock Report on JPM
JPMorgan Chase & Co. Trading Up 0.6%
Shares of JPMorgan Chase & Co. stock opened at $298.46 on Friday. The firm has a market cap of $829.45 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.01 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $299.59. 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 business has a 50-day moving average price of $277.68 and a 200-day moving average price of $259.76.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. The company 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 firm's revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $6.12 earnings per share. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The business 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 $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.88%. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.
JPMorgan Chase & Co. Company Profile
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Free Report)
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.
See Also
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