Zhang Financial LLC Grows Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Zhang Financial LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 57.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,436 shares of the financial services provider's stock after buying an additional 7,067 shares during the quarter. Zhang Financial LLC's holdings in JPMorgan Chase & Co. were worth $4,767,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Redwood Park Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $33,000. Sellwood Investment Partners LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $37,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 1.3%

Shares of JPM traded down $3.52 during trading on Friday, reaching $264.72. 7,095,259 shares of the company traded hands, compared to its average volume of 9,522,372. The stock has a 50-day simple moving average of $251.13 and a 200-day simple moving average of $250.46. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $280.25. The stock has a market cap of $735.69 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping 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 business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period last year, the business posted $4.44 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate 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 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 dividend payout ratio is currently 27.49%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on JPM. Royal Bank of Canada reaffirmed a "hold" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Cowen reissued a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research note on Monday, June 2nd. Wells Fargo & Company boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Morgan Stanley reissued an "equal weight" rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $269.65.

Insider Activity

In related news, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Jennifer Piepszak sold 4,272 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the completion of the transaction, the chief operating officer now directly owns 50,197 shares of the company's stock, valued at $12,400,164.91. The trade was a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,722 shares of company stock worth $25,599,477. Corporate insiders own 0.47% of the company's stock.

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.