Rossby Financial LCC Grows Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Rossby Financial LCC boosted its position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 41.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,143 shares of the financial services provider's stock after acquiring an additional 1,212 shares during the quarter. Rossby Financial LCC's holdings in JPMorgan Chase & Co. were worth $1,009,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $29,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. in the first quarter valued at approximately $33,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $34,000. Investment Counsel Co. of Nevada acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $37,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Stock Down 3.1%

JPM traded down $9.11 during midday trading on Tuesday, hitting $282.86. The company had a trading volume of 15,430,363 shares, compared to its average volume of 10,289,449. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $786.09 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.75 and a beta of 1.10. The stock's 50 day moving average price is $267.94 and its 200 day moving average price is $255.26.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly 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 period in the previous year, the firm posted $4.44 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. On average, research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the stock an "outperform" rating in a report on Monday. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Finally, Piper Sandler reiterated a "hold" rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $276.80.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 2,821 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the sale, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. The trade was a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeremy Barnum sold 40,014 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,200 shares of company stock valued at $18,060,015. Insiders own 0.47% of the company's stock.

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.