Strong Tower Advisory Services Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Strong Tower Advisory Services increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 10.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,548 shares of the financial services provider’s stock after purchasing an additional 601 shares during the period. Strong Tower Advisory Services’ holdings in JPMorgan Chase & Co. were worth $1,303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stone House Investment Management LLC increased its stake in shares of JPMorgan Chase & Co. by 132.8% in the 4th 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 purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $35,000. Partnership Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $36,000. Vermillion & White Wealth Management Group LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth $40,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Oppenheimer lowered their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Morgan Stanley dropped their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, May 21st. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Jefferies Financial Group increased their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $194.10.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $198.14 on Wednesday. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $205.88. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The firm has a market cap of $568.99 billion, a P/E ratio of 11.96, a P/E/G ratio of 2.64 and a beta of 1.12. The business’s 50 day moving average price is $195.87 and its 200 day moving average price is $185.44.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. On average, sell-side analysts expect that JPMorgan Chase & Co. will post 16.44 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.32%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the stock in a transaction on 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 directly owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the sale, the insider now directly owns 212,265 shares in the company, valued at $42,355,358.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Dimon sold 178,222 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,565 shares of company stock worth $46,962,717. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company 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.