RedJay Asset Management Inc. Invests $2.70 Million in JPMorgan Chase & Co. (NYSE:JPM)

RedJay Asset Management Inc. acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 11,000 shares of the financial services provider's stock, valued at approximately $2,698,000. JPMorgan Chase & Co. makes up approximately 1.5% of RedJay Asset Management Inc.'s portfolio, making the stock its 25th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in JPM. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $29,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter worth about $33,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $34,000. Investment Counsel Co. of Nevada acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business'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 sale, the director owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the chief financial officer owned 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. Over the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Evercore ISI lifted their price objective on JPMorgan Chase & Co. from $280.00 to $298.00 and gave the stock an "outperform" rating in a research report on Wednesday. Morgan Stanley raised their target price on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a report on Monday, June 23rd. UBS Group raised their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, April 17th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada set a $305.00 target price on JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday, June 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $277.74.

JPMorgan Chase & Co. Stock Up 1.4%

NYSE JPM traded up $4.13 during trading on Friday, hitting $296.13. The stock had a trading volume of 6,541,646 shares, compared to its average volume of 9,533,583. The company has a market capitalization of $822.96 billion, a PE ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The company's 50-day moving average price is $266.97 and its two-hundred day moving average price is $254.73. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40.

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

JPMorgan Chase & Co. Dividend Announcement

The company 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 $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

About JPMorgan Chase & Co.

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.