Kennedy Investment Group Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Kennedy Investment Group lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,282 shares of the financial services provider’s stock after purchasing an additional 229 shares during the period. Kennedy Investment Group’s holdings in JPMorgan Chase & Co. were worth $1,296,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of JPM. Capital & Planning LLC increased its stake in shares of JPMorgan Chase & Co. by 13.3% in the 4th quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 276 shares in the last quarter. Brighton Jones LLC increased its stake in shares of JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $66,088,000. SOA Wealth Advisors LLC. increased its stake in shares of JPMorgan Chase & Co. by 1.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider’s stock worth $5,115,000 after acquiring an additional 255 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider’s stock valued at $46,068,000 after purchasing an additional 1,229 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

JPM has been the subject of a number of analyst reports. UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 17th. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a research note on Monday, June 2nd. Evercore ISI reduced their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective for the company. Finally, TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $271.90.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM 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 company has a market capitalization of $789.65 billion, a P/E ratio of 13.95, a P/E/G ratio of 2.63 and a beta of 1.08. The firm’s 50 day simple moving average is $259.29 and its two-hundred day simple moving average is $252.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $4.44 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal 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 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Insider Activity

In other news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 sale, the chief financial officer now owns 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the sale, the chief operating officer now owns 68,583 shares in the company, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,200 shares of company stock worth $18,060,015 over the last quarter. 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.