Atticus Wealth Management LLC Purchases 200 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Atticus Wealth Management LLC grew its position in JPMorgan Chase & Co. (NYSE:JPM) by 5.4% in the first quarter, HoldingsChannel.com reports. The firm owned 3,902 shares of the financial services provider’s stock after acquiring an additional 200 shares during the period. Atticus Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $957,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $29,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth $33,000. Sellwood Investment Partners LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $37,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on JPM shares. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Evercore ISI reduced their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $271.90.

JPMorgan Chase & Co. Stock Up 1.0%

Shares of JPMorgan Chase & Co. stock opened at $284.14 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1 year low of $190.90 and a 1 year high of $284.28. The firm’s 50-day moving average is $259.29 and its two-hundred day moving average is $252.14. The stock has a market cap of $789.65 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 2.63 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period in the prior year, the business earned $4.44 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction dated 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 sale, the general counsel now directly owns 36,520 shares in the company, valued at approximately $9,703,729.20. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer now owns 18,017 shares in the company, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. Corporate insiders own 0.47% of the company’s stock.

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.