Sims Investment Management LLC Acquires New Shares in JPMorgan Chase & Co. (NYSE:JPM)

Sims Investment Management LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 983 shares of the financial services provider's stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $471,000. Disciplined Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $217,000. LGT Group Foundation lifted its holdings in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after purchasing an additional 14,300 shares during the last quarter. Hidden Cove Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 4.2% in the 1st quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares during the last quarter. Finally, Kinsale Capital Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock valued at $10,483,000 after purchasing an additional 4,375 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded up $4.13 during mid-day trading on Friday, reaching $296.13. The stock had a trading volume of 6,541,646 shares, compared to its average volume of 9,527,821. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. The business has a 50 day simple moving average of $266.97 and a 200 day simple moving average of $254.56. The firm has a market capitalization of $822.96 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 2.75 and a beta of 1.10. 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. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the prior year, the business posted $4.44 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer directly owned 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $749,567.91. Following the transaction, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,200 shares of company stock worth $18,060,015 in the last ninety days. 0.47% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

JPM has been the topic of several research analyst reports. TD Cowen assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 price target on the stock. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a "hold" rating in a report on Monday, June 2nd. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $277.74.

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.