Thoroughbred Financial Services LLC Boosts Position in JPMorgan Chase & Co. (NYSE:JPM)

Thoroughbred Financial Services LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,732 shares of the financial services provider's stock after acquiring an additional 4,970 shares during the period. JPMorgan Chase & Co. accounts for 1.6% of Thoroughbred Financial Services LLC's portfolio, making the stock its 8th largest position. Thoroughbred Financial Services LLC's holdings in JPMorgan Chase & Co. were worth $25,690,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $28,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $33,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $37,000. Measured Risk Portfolios Inc. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $44,000. Finally, Glass Jacobson Investment Advisors llc raised its stake in shares of JPMorgan Chase & Co. by 41.4% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 222 shares of the financial services provider's stock worth $53,000 after buying an additional 65 shares during the last quarter. Institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the firm'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 completion of the transaction, the chief operating officer directly owned 62,455 shares of the company's stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,557 shares of company stock valued at $4,113,796. 0.47% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on JPM shares. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They issued a "buy" rating and a $305.00 target price for the company. TD Securities reaffirmed a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a "hold" rating in a research note on Wednesday, July 9th. Bank of America upped their target price on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley upped their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

JPMorgan Chase & Co. Stock Up 0.6%

JPMorgan Chase & Co. stock opened at $288.55 on Friday. The company has a market cap of $793.44 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.93 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $200.61 and a 1-year high of $301.29. The company has a fifty day simple moving average of $283.74 and a 200 day simple moving average of $262.70. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The business had revenue of $44.91 billion during the quarter, compared to the consensus estimate of $43.76 billion. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $6.12 earnings per share. 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 was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were given a $1.40 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is 28.73%.

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.

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