Channel Wealth LLC Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Channel Wealth LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,094 shares of the financial services provider’s stock after buying an additional 507 shares during the quarter. Channel Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $2,721,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $29,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $37,000. Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at approximately $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $43,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $264.38 on Thursday. The firm has a market cap of $734.74 billion, a PE ratio of 13.39, a PEG ratio of 2.83 and a beta of 1.08. The firm has a fifty day moving average of $246.91 and a 200 day moving average of $249.59. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results 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 business had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.44 earnings per share. As a group, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed 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. This represents a $5.60 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI decreased their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Robert W. Baird boosted their price objective on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Truist Financial upped their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a research note on Monday. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Monday. Finally, TD Cowen started coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $267.15.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now directly owns 49,127 shares of the company’s stock, valued at approximately $12,130,438.84. This represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer now directly owns 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 95,594 shares of company stock worth $23,991,061. Corporate insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Company 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.