Klingman & Associates LLC Has $4.75 Million Position in JPMorgan Chase & Co. $JPM

Key Points

• Klingman & Associates LLC increased its stake in JPMorgan Chase & Co. by 6.9%, now holding a total of 19,347 shares valued at approximately $4.75 million.
• Analysts have mixed sentiments on JPMorgan Chase, with a majority rating it as a "Moderate Buy" and an average price target of $288.68.
• The company recently declared a $1.40 quarterly dividend, yielding 1.9%, with a payout ratio of 28.73%.

Klingman & Associates LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,347 shares of the financial services provider's stock after buying an additional 1,248 shares during the quarter. Klingman & Associates LLC's holdings in JPMorgan Chase & Co. were worth $4,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of JPM. MJT & Associates Financial Advisory Group Inc. acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth approximately $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $30,000. Curat Global LLC acquired a new stake in shares of JPMorgan Chase & Co. during the first quarter worth $33,000. Measured Risk Portfolios Inc. bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth $54,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

JPM has been the topic of several recent research reports. HSBC reissued a "reduce" rating and issued a $259.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Evercore ISI set a $298.00 target price on JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday, July 7th. TD Cowen started coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target for the company. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research note on Friday, June 27th. Finally, Cowen reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $288.68.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM traded down $1.42 during midday trading on Tuesday, reaching $290.11. The stock had a trading volume of 3,341,854 shares, compared to its average volume of 9,863,949. The firm has a market cap of $797.73 billion, a PE ratio of 14.89, a P/E/G ratio of 1.93 and a beta of 1.11. The firm has a 50 day simple moving average of $286.92 and a 200-day simple moving average of $263.72. JPMorgan Chase & Co. has a one year low of $200.61 and a one year high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.88 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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $43.76 billion. During the same period last year, the business posted $6.12 EPS. JPMorgan Chase & Co.'s revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

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.