Ridgecrest Wealth Partners LLC Has $1.93 Million Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Ridgecrest Wealth Partners LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,854 shares of the financial services provider’s stock after buying an additional 497 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.0% of Ridgecrest Wealth Partners LLC’s investment portfolio, making the stock its 23rd biggest position. Ridgecrest Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $1,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. DDD Partners LLC boosted its stake in JPMorgan Chase & Co. by 2.8% in the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock valued at $339,000 after buying an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 38 shares during the last quarter. Hurlow Wealth Management Group Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.7% in the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock valued at $1,328,000 after purchasing an additional 40 shares in the last quarter. Wimmer Associates 1 LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.0% during the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock valued at $986,000 after purchasing an additional 40 shares during the last quarter. Finally, Twin Lakes Capital Management LLC increased its position in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Twin Lakes Capital Management LLC now owns 13,932 shares of the financial services provider’s stock worth $3,340,000 after purchasing an additional 40 shares in the last quarter. 71.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler reissued a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Robert W. Baird raised their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Morgan Stanley boosted their price objective on JPMorgan Chase & Co. from $236.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus price target of $271.90.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the completion of the sale, the chief financial officer now directly owns 18,017 shares of the company’s stock, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 6,129 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 68,583 shares in the company, valued at $17,197,873.08. This represents a 8.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $284.14 on Thursday. The company 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. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $284.28. The firm has a fifty day simple moving average of $259.29 and a 200 day simple moving average of $252.14.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates 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% compared to the same quarter last year. During the same period last year, the business posted $4.44 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

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

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.