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

Perennial Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 57,169 shares of the financial services provider's stock, valued at approximately $13,704,000. JPMorgan Chase & Co. comprises about 3.0% of Perennial Advisors LLC's portfolio, making the stock its 9th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion Wealth Management Inc. bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $189,000. Griffith & Werner Inc. bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth approximately $892,000. Sunbeam Capital Management LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $1,087,000. Castlekeep Investment Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $1,266,000. Finally, Peak Retirement Planning Inc. bought a new position in JPMorgan Chase & Co. during the fourth quarter worth $3,220,000. Institutional investors and hedge funds own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.7%

Shares of JPM stock traded up $4.41 during mid-day trading on Tuesday, reaching $265.12. 5,331,489 shares of the company were exchanged, compared to its average volume of 9,577,012. The company has a market capitalization of $736.80 billion, a P/E ratio of 13.43, a P/E/G ratio of 2.83 and a beta of 1.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25. The business's 50 day simple moving average is $244.31 and its 200 day simple moving average is $248.58.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the prior year, the firm earned $4.44 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. Research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.11%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. This trade represents a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer now directly owns 18,017 shares in the company, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,594 shares of company stock valued at $23,991,061. Corporate insiders own 0.47% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Piper Sandler reissued an "overweight" rating and issued a $295.00 target price (up from $260.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. TD Securities lifted their price objective on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Robert W. Baird increased their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Truist Financial set a $270.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday. Finally, UBS Group upped their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $266.65.

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.