Traynor Capital Management Inc. Increases Position in JPMorgan Chase & Co. (NYSE:JPM)

Traynor Capital Management Inc. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,325 shares of the financial services provider’s stock after purchasing an additional 712 shares during the period. JPMorgan Chase & Co. makes up 0.7% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 24th largest holding. Traynor Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $8,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC boosted its position in JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares in the last quarter. Bare Financial Services Inc acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $35,000. Partnership Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $36,000. Stuart Chaussee & Associates Inc. acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $40,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Robert W. Baird boosted their price target on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. UBS Group upped their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. StockNews.com cut JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Finally, BMO Capital Markets reduced their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $194.10.

Insider Transactions at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 178,222 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the transaction, the chief executive officer now owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO James Dimon sold 178,222 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the sale, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the sale, the insider now owns 6,484 shares in the company, valued at approximately $1,237,860.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,565 shares of company stock valued at $46,962,717. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $198.90 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $195.52 and a two-hundred day moving average of $185.17. The stock has a market cap of $571.18 billion, a P/E ratio of 12.01, a PEG ratio of 2.64 and a beta of 1.12. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The business had revenue of $41.93 billion for the quarter, compared to analysts’ expectations of $40.90 billion. On average, research analysts expect that JPMorgan Chase & Co. will post 16.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 annualized dividend and a dividend yield of 2.31%. JPMorgan Chase & Co.’s payout ratio is 27.78%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.