Flagship Harbor Advisors LLC Increases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Flagship Harbor Advisors LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the first quarter, Holdings Channel.com reports. The fund owned 48,980 shares of the financial services provider’s stock after acquiring an additional 311 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $12,015,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of JPM. Friday Financial boosted its stake in JPMorgan Chase & Co. by 112.9% during the first quarter. Friday Financial now owns 1,895 shares of the financial services provider’s stock valued at $466,000 after buying an additional 1,005 shares during the period. Duncker Streett & Co. Inc. raised its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 1st quarter. Duncker Streett & Co. Inc. now owns 44,984 shares of the financial services provider’s stock valued at $11,034,000 after acquiring an additional 466 shares in the last quarter. Ridgecrest Wealth Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 6.8% during the 1st quarter. Ridgecrest Wealth Partners LLC now owns 7,854 shares of the financial services provider’s stock valued at $1,927,000 after acquiring an additional 497 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of JPMorgan Chase & Co. by 4.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 621,666 shares of the financial services provider’s stock valued at $152,495,000 after acquiring an additional 24,695 shares during the last quarter. Finally, Crumly & Associates Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.4% during the first quarter. Crumly & Associates Inc. now owns 6,164 shares of the financial services provider’s stock worth $1,512,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.0%

Shares of JPM stock opened at $284.14 on Thursday. The business has a 50-day moving average of $259.29 and a 200 day moving average of $252.14. 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 stock has a market capitalization of $789.65 billion, a PE ratio of 13.95, a P/E/G ratio of 2.63 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.44 earnings per share. As a group, sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 1.97%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on JPM. Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective for the company. Truist Financial upped 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 report on Monday, June 2nd. Finally, Wall Street Zen raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Hold” and a consensus price target of $271.90.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 6,129 shares of the firm’s stock in a transaction on 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 now directly owns 68,583 shares of the company’s stock, valued at $17,197,873.08. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last quarter. Company insiders own 0.47% of the company’s stock.

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.