Terra Nova Asset Management LLC Buys New Shares in JPMorgan Chase & Co. (NYSE:JPM)

Terra Nova Asset Management LLC purchased a new position in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,228 shares of the financial services provider's stock, valued at approximately $2,018,000. JPMorgan Chase & Co. makes up approximately 1.6% of Terra Nova Asset Management LLC's investment portfolio, making the stock its 28th biggest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $471,000. Disciplined Investments LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $217,000. LGT Group Foundation lifted its stake in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock worth $126,040,000 after acquiring an additional 14,300 shares during the last quarter. Kinsale Capital Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after acquiring an additional 4,375 shares during the last quarter. Finally, Jag Capital Management LLC boosted its holdings in JPMorgan Chase & Co. by 10.5% during the 4th 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. Institutional investors own 71.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JPM shares. Truist Financial increased their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Morgan Stanley raised their target price on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Finally, Citigroup reiterated a "neutral" rating and issued a $275.00 price target (up previously from $250.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $277.74.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 6,129 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.76, for a total value of $1,536,908.04. Following the completion of the sale, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 18,017 shares of the company's stock, 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. Insiders have sold 71,200 shares of company stock valued at $18,060,015 in the last 90 days. Corporate insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 1.4%

Shares of NYSE JPM traded up $4.13 during mid-day trading on Friday, reaching $296.13. 6,541,646 shares of the company were exchanged, compared to its average volume of 9,527,821. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $296.40. The firm has a 50-day moving average of $265.91 and a 200 day moving average of $254.16. The stock has a market cap of $822.96 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.44 earnings per share. On average, research analysts expect 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. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.89%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 27.49%.

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.