Purkiss Capital Advisors LLC Purchases 2,364 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• Purkiss Capital Advisors LLC increased its stake in JPMorgan Chase & Co. by 26.8%, now owning 11,186 shares worth approximately $2.74 million, making it the 5th largest holding in their portfolio.
• Analysts have raised their price targets for JPMorgan Chase & Co., with UBS and Royal Bank Of Canada setting new targets at $305.00, while the average consensus target stands at $288.68.
• JPMorgan Chase & Co. recently announced a quarterly dividend of $1.40, yielding 1.9%, and reported earnings of $4.96 per share, exceeding estimates.

Purkiss Capital Advisors LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 26.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,186 shares of the financial services provider's stock after purchasing an additional 2,364 shares during the period. JPMorgan Chase & Co. accounts for 2.1% of Purkiss Capital Advisors LLC's portfolio, making the stock its 5th largest holding. Purkiss Capital Advisors LLC's holdings in JPMorgan Chase & Co. were worth $2,744,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after buying an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after buying an additional 1,229 shares during the last quarter. Highview Capital Management LLC DE grew its stake in JPMorgan Chase & Co. by 16.1% in the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock valued at $3,266,000 after buying an additional 1,893 shares during the last quarter. KKM Financial LLC grew its stake in JPMorgan Chase & Co. by 3.9% in the 4th quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after buying an additional 640 shares during the last quarter. Finally, OLD Mission Capital LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $225,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on JPM shares. UBS Group boosted their price objective 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. Royal Bank Of Canada set a $305.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price objective for the company. Finally, Evercore ISI set a $298.00 price objective on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, July 7th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $288.68.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $289.21 on Monday. The company has a 50 day moving average of $281.04 and a 200-day moving average of $261.69. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $301.29. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25. The company has a market cap of $803.74 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same quarter in the prior year, the firm posted $6.12 EPS. The firm's quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares of the company's stock, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Linda Bammann sold 9,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

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.

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