JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC increased its stake in JPMorgan Chase & Co. by 4.0%, holding 422,408 shares valued at $103.6 million, making it the firm's 7th largest investment.
• JPMorgan Chase recently reported earnings per share of $4.96, exceeding the consensus estimate, though revenue showed a 10.5% decrease year-over-year.
• Analysts have set a range of price targets for JPMorgan Chase, with Bank of America having the highest at $340.00, contributing to an average target of $288.68.

NewEdge Wealth LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 422,408 shares of the financial services provider's stock after acquiring an additional 16,100 shares during the period. JPMorgan Chase & Co. comprises approximately 1.9% of NewEdge Wealth LLC's portfolio, making the stock its 7th largest position. NewEdge Wealth LLC's holdings in JPMorgan Chase & Co. were worth $103,617,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. MJT & Associates Financial Advisory Group Inc. purchased a new position in JPMorgan Chase & Co. in the 1st quarter valued at approximately $28,000. Redwood Park Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at approximately $29,000. Curat Global LLC purchased a new position in shares of JPMorgan Chase & Co. during the 1st quarter worth approximately $33,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Finally, Measured Risk Portfolios Inc. acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $44,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Morgan Stanley increased their target price on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $327.00 to $330.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $288.68.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the sale, the general counsel owned 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,557 shares of company stock valued at $4,113,796 in the last quarter. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 0.6%

Shares of JPM traded up $1.61 during mid-day trading on Friday, reaching $288.55. The company had a trading volume of 6,633,369 shares, compared to its average volume of 8,541,502. JPMorgan Chase & Co. has a fifty-two week low of $200.61 and a fifty-two week high of $301.29. The firm has a fifty day simple moving average of $283.74 and a 200-day simple moving average of $262.70. The stock has a market cap of $793.44 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. 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. (NYSE:JPM - Get Free Report) last issued its earnings results 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 return on equity of 16.93% and a net margin of 20.52%. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter last year, the firm earned $6.12 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.9%. JPMorgan Chase & Co.'s payout ratio is presently 28.73%.

About JPMorgan Chase & Co.

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.