Meritage Portfolio Management Buys 6,007 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Meritage Portfolio Management grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,006 shares of the financial services provider's stock after purchasing an additional 6,007 shares during the quarter. JPMorgan Chase & Co. makes up approximately 1.0% of Meritage Portfolio Management's portfolio, making the stock its 21st biggest position. Meritage Portfolio Management's holdings in JPMorgan Chase & Co. were worth $14,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at $8,310,884,000. GAMMA Investing LLC increased its position in JPMorgan Chase & Co. by 25,861.9% during 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. Northern Trust Corp increased its position in JPMorgan Chase & Co. by 15.4% during 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after purchasing an additional 2,465,572 shares during the period. Institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock traded down $1.41 during midday trading on Friday, hitting $286.78. The stock had a trading volume of 7,378,197 shares, compared to its average volume of 9,554,021. The firm's fifty day moving average is $270.98 and its two-hundred day moving average is $256.29. The company has a market capitalization of $796.99 billion, a PE ratio of 14.08, a P/E/G ratio of 2.64 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the prior year, the company posted $4.44 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.95%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Analyst Upgrades and Downgrades

JPM has been the topic of a number of research analyst reports. Morgan Stanley set a $240.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "equal weight" rating in a research report on Monday. Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Keefe, Bruyette & Woods upgraded shares of JPMorgan Chase & Co. from a "market perform" rating to an "outperform" rating and set a $327.00 target price on the stock in a report on Wednesday. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Finally, Evercore ISI set a $298.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $284.42.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction that occurred on 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 directly owned 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Linda Bammann sold 9,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director owned 91,539 shares of the company's stock, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by company 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.