Ritholtz Wealth Management Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Ritholtz Wealth Management raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,931 shares of the financial services provider's stock after purchasing an additional 1,784 shares during the period. JPMorgan Chase & Co. accounts for 0.6% of Ritholtz Wealth Management's holdings, making the stock its 27th biggest position. Ritholtz Wealth Management's holdings in JPMorgan Chase & Co. were worth $19,362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider's stock worth $14,161,171,000 after buying an additional 876,417 shares in the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $8,310,884,000. Northern Trust Corp grew its holdings in shares of JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of JPMorgan Chase & Co. by 25,861.9% during the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in JPMorgan Chase & Co. by 9.1% in the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider's stock worth $5,475,223,000 after purchasing an additional 1,914,049 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.6%

JPMorgan Chase & Co. stock traded up $4.31 during trading on Wednesday, hitting $273.83. The company had a trading volume of 9,583,437 shares, compared to its average volume of 9,523,461. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $280.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The company's 50 day simple moving average is $253.87 and its 200-day simple moving average is $250.84. The stock has a market cap of $760.98 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 2.72 and a beta of 1.08.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared 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 yield of 2.05%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 27.49%.

Analysts Set New Price Targets

Several research firms recently commented on JPM. UBS Group increased their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, April 17th. TD Cowen assumed coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Piper Sandler restated a "hold" rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. Finally, Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Hold" and a consensus price target of $271.70.

Insider Activity

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. This trade represents a 15.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is currently owned by company insiders.

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.