Nova R Wealth Inc. Acquires 249 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Nova R Wealth Inc. grew its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 17.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,705 shares of the financial services provider’s stock after acquiring an additional 249 shares during the period. Nova R Wealth Inc.’s holdings in JPMorgan Chase & Co. were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares in the last quarter. Norges Bank purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth about $8,310,884,000. Northern Trust Corp boosted its stake in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. GAMMA Investing LLC grew its holdings in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after buying an additional 1,914,049 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.0%

Shares of JPM opened at $290.10 on Tuesday. The firm has a fifty day moving average price of $262.77 and a 200-day moving average price of $253.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $806.21 billion, a P/E ratio of 14.24, a P/E/G ratio of 2.67 and a beta of 1.08. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $292.65.

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 company had revenue of $45.30 billion during 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 firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $4.44 EPS. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

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 $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 dividend yield of 1.93%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other news, 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 transaction of $1,536,908.04. Following the transaction, the chief operating officer owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction dated 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 owned 18,017 shares of the company’s stock, valued at $4,518,123.09. The trade was a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 in the last ninety days. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday, June 2nd. TD Securities reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Robert W. Baird cut shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research report on Friday. Finally, Citigroup reaffirmed a “neutral” rating and issued a $275.00 price target (up previously from $250.00) on shares of JPMorgan Chase & Co. in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $273.15.

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.