Perpetual Ltd Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Perpetual Ltd increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 14.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,130 shares of the financial services provider’s stock after purchasing an additional 1,548 shares during the quarter. Perpetual Ltd’s holdings in JPMorgan Chase & Co. were worth $2,975,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nadler Financial Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 2.4% in the first quarter. Nadler Financial Group Inc. now owns 5,860 shares of the financial services provider’s stock valued at $1,438,000 after acquiring an additional 140 shares during the period. PDS Planning Inc increased its holdings in JPMorgan Chase & Co. by 2.4% during the 1st quarter. PDS Planning Inc now owns 47,659 shares of the financial services provider’s stock worth $11,691,000 after acquiring an additional 1,095 shares during the period. Austin Asset Management Co Inc lifted its stake in JPMorgan Chase & Co. by 24.7% in the 1st quarter. Austin Asset Management Co Inc now owns 1,085 shares of the financial services provider’s stock worth $266,000 after purchasing an additional 215 shares in the last quarter. GenTrust LLC boosted its holdings in JPMorgan Chase & Co. by 10.4% in the 1st quarter. GenTrust LLC now owns 7,877 shares of the financial services provider’s stock valued at $1,932,000 after purchasing an additional 744 shares during the period. Finally, KG&L Capital Management LLC grew its position in shares of JPMorgan Chase & Co. by 1.2% during the 1st quarter. KG&L Capital Management LLC now owns 52,576 shares of the financial services provider’s stock valued at $12,779,000 after purchasing an additional 624 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $290.43 on Wednesday. The company has a 50-day simple moving average of $263.87 and a two-hundred day simple moving average of $253.51. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $292.65. The firm has a market cap of $807.13 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.70 and a beta of 1.10. 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. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The company had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same quarter in the previous year, the company posted $4.44 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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 paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Bank of America increased their price objective on JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Truist Financial raised their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a report on Monday, June 2nd. Citigroup reiterated a “neutral” rating and set a $275.00 price target (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 25th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Finally, UBS Group raised their target price 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. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus price target of $273.15.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company’s stock, valued at $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer owned 62,455 shares of the company’s stock, valued at $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by company insiders.

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.