Sweeney & Michel LLC Invests $4.47 Million in JPMorgan Chase & Co. (NYSE:JPM)

Sweeney & Michel LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 18,236 shares of the financial services provider's stock, valued at approximately $4,473,000. JPMorgan Chase & Co. comprises 1.8% of Sweeney & Michel LLC's holdings, making the stock its 17th biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $471,000. Disciplined Investments LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $217,000. LGT Group Foundation raised its position in JPMorgan Chase & Co. by 2.8% during the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after acquiring an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. raised its position in JPMorgan Chase & Co. by 11.1% during the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock valued at $10,483,000 after acquiring an additional 4,375 shares in the last quarter. Finally, Jag Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after acquiring an additional 140 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Down 0.7%

Shares of JPMorgan Chase & Co. stock traded down $1.89 during trading hours on Wednesday, reaching $264.38. The stock had a trading volume of 5,619,804 shares, compared to its average volume of 9,537,799. The firm has a market capitalization of $734.74 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a 50 day simple moving average of $246.48 and a two-hundred day simple moving average of $249.49.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. 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 prior year, the firm earned $4.44 EPS. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

JPM has been the subject of several recent research reports. Bank of America cut their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. TD Securities restated a "buy" rating on shares of JPMorgan Chase & Co. in a research report on Wednesday. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Finally, UBS Group lifted their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $267.15.

Insider Buying and Selling

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. This represents a 15.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the sale, the general counsel now directly owns 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,594 shares of company stock worth $23,991,061. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Company 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.