JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by WASHINGTON TRUST Co

WASHINGTON TRUST Co raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 16.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 220,937 shares of the financial services provider's stock after buying an additional 31,261 shares during the period. JPMorgan Chase & Co. comprises approximately 2.1% of WASHINGTON TRUST Co's holdings, making the stock its 13th largest position. WASHINGTON TRUST Co's holdings in JPMorgan Chase & Co. were worth $54,196,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Insight Inv LLC increased its position in JPMorgan Chase & Co. by 111.8% in the first quarter. Insight Inv LLC now owns 29,376 shares of the financial services provider's stock worth $7,206,000 after buying an additional 15,504 shares in the last quarter. Nabity Jensen Investment Management Inc grew its holdings in JPMorgan Chase & Co. by 1.6% during the 1st quarter. Nabity Jensen Investment Management Inc now owns 6,991 shares of the financial services provider's stock valued at $1,715,000 after buying an additional 107 shares in the last quarter. Argent Advisors Inc. grew its holdings in JPMorgan Chase & Co. by 2.0% during the 1st quarter. Argent Advisors Inc. now owns 29,378 shares of the financial services provider's stock valued at $7,206,000 after buying an additional 572 shares in the last quarter. Custos Family Office LLC grew its holdings in shares of JPMorgan Chase & Co. by 20.6% in the first quarter. Custos Family Office LLC now owns 1,372 shares of the financial services provider's stock valued at $337,000 after purchasing an additional 234 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida grew its holdings in shares of JPMorgan Chase & Co. by 3.0% in the first quarter. Canandaigua National Trust Co of Florida now owns 5,293 shares of the financial services provider's stock valued at $1,298,000 after purchasing an additional 153 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on JPM. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Morgan Stanley set a $240.00 target price on JPMorgan Chase & Co. and gave the company an "equal weight" rating in a research report on Monday. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Citigroup set a $275.00 price target on JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday. Finally, TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They issued a "buy" rating and a $305.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of "Hold" and an average target price of $277.74.

Insider Transactions at JPMorgan Chase & Co.

In other news, 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 transaction of $10,034,310.78. Following the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm's stock in a transaction that occurred 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 directly owned 36,520 shares in the company, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. 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 90 days. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Performance

JPM traded down $2.06 on Monday, reaching $293.94. The stock had a trading volume of 1,642,154 shares, compared to its average volume of 9,503,079. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.49. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The business's 50-day moving average price is $266.97 and its two-hundred day moving average price is $254.88. The company has a market cap of $816.89 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10.

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, topping analysts' consensus estimates 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 business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter last year, the firm earned $4.44 EPS. The business's revenue was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.91%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.

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.