Perennial Advisors LLC Invests $13.70 Million in JPMorgan Chase & Co. (NYSE:JPM)

Perennial Advisors LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 57,169 shares of the financial services provider's stock, valued at approximately $13,704,000. JPMorgan Chase & Co. accounts for 3.0% of Perennial Advisors LLC's investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth about $29,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $37,000. Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $43,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $43,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 now directly owns 18,017 shares of the company's stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the general counsel now directly owns 68,757 shares of the company's stock, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,594 shares of company stock valued at $23,991,061. 0.47% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on JPM shares. Piper Sandler reaffirmed an "overweight" rating and issued a $295.00 price target (up previously from $260.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research report on Friday, March 7th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $285.00 price target (up previously from $255.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $266.65.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of NYSE JPM traded down $1.23 during mid-day trading on Wednesday, hitting $264.06. The company had a trading volume of 2,006,231 shares, compared to its average volume of 9,547,456. The company has a market capitalization of $733.84 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The firm has a 50-day simple moving average of $244.84 and a two-hundred day simple moving average of $248.69. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.'s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $4.44 EPS. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.12%. JPMorgan Chase & Co.'s payout ratio is presently 27.49%.

JPMorgan Chase & Co. 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.