Mullooly Asset Management Inc. Acquires New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Mullooly Asset Management Inc. has acquired a new stake in JPMorgan Chase & Co., purchasing 3,283 shares valued at approximately $805,000, which marks the stock as their 21st largest position.
• Insider transactions revealed that COO Jennifer Piepszak and General Counsel Stacey Friedman sold a combined total of 8,949 shares of the company, indicating a decrease in their ownership percentages.
• JPMorgan Chase & Co. has seen mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $288.68, despite recent price adjustments from various financial institutions.

Mullooly Asset Management Inc. acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,283 shares of the financial services provider's stock, valued at approximately $805,000. JPMorgan Chase & Co. makes up about 0.0% of Mullooly Asset Management Inc.'s investment portfolio, making the stock its 21st largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Florida Financial Advisors LLC boosted its position in JPMorgan Chase & Co. by 62.5% during the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock worth $2,416,000 after acquiring an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $471,000. Crown Wealth Group LLC lifted its stake in JPMorgan Chase & Co. by 5.4% in the 1st quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock worth $1,060,000 after purchasing an additional 222 shares in the last quarter. Morse Asset Management Inc boosted its holdings in shares of JPMorgan Chase & Co. by 19.5% during the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock worth $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Buying and Selling at JPMorgan Chase & Co.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a report on Friday, June 27th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, April 17th. Finally, HSBC reaffirmed a "reduce" rating and set a $259.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Down 1.5%

Shares of NYSE:JPM opened at $287.03 on Friday. The firm has a market capitalization of $797.67 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. JPMorgan Chase & Co. has a 1 year low of $200.61 and a 1 year high of $301.29. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.89. The firm's 50-day moving average is $283.24 and its two-hundred day moving average is $262.53.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping 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 firm had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm earned $6.12 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

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.

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