HM Payson & Co. Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

HM Payson & Co. raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 382,010 shares of the financial services provider’s stock after acquiring an additional 50,664 shares during the period. JPMorgan Chase & Co. makes up 1.6% of HM Payson & Co.’s portfolio, making the stock its 18th biggest position. HM Payson & Co.’s holdings in JPMorgan Chase & Co. were worth $93,707,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $471,000. Crown Wealth Group LLC boosted its holdings in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 222 shares during the last quarter. Disciplined Investments LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $217,000. Hidden Cove Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 112 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 6.4% in the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock valued at $4,953,000 after purchasing an additional 1,218 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on JPM. Truist Financial increased their price target on JPMorgan Chase & Co. from $280.00 to $290.00 and gave the company a “hold” rating in a report on Wednesday. Cowen reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Wells Fargo & Company restated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Monday. HSBC restated a “reduce” rating and set a $259.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $284.42.

JPMorgan Chase & Co. Stock Down 0.5%

JPM opened at $286.78 on Friday. JPMorgan Chase & Co. has a 12 month low of $190.90 and a 12 month high of $296.40. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $796.99 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.64 and a beta of 1.10. The stock’s 50 day moving average price is $270.98 and its 200 day moving average price is $256.29.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period last year, the firm earned $4.44 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, research analysts predict 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. 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 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 6,129 shares of JPMorgan Chase & Co. 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 directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. This trade represents a 8.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chief financial officer owned 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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.