Sonora Investment Management Group LLC Acquires 763 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sonora Investment Management Group LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 114,409 shares of the financial services provider’s stock after buying an additional 763 shares during the quarter. JPMorgan Chase & Co. accounts for 2.2% of Sonora Investment Management Group LLC’s holdings, making the stock its 7th largest position. Sonora Investment Management Group LLC’s holdings in JPMorgan Chase & Co. were worth $28,065,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in JPM. Redwood Park Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $29,000. Curat Global LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth approximately $33,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $34,000. Investment Counsel Co. of Nevada acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $37,000. Finally, Midwest Capital Advisors LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the transaction, the chief operating officer now owns 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,722 shares of company stock valued at $25,599,477 over the last quarter. 0.47% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on JPM. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. UBS Group lifted 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. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a research note on Monday, June 2nd. Finally, Robert W. Baird lifted their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of “Hold” and a consensus target price of $269.65.

JPMorgan Chase & Co. Stock Up 0.7%

JPMorgan Chase & Co. stock opened at $268.63 on Wednesday. The firm has a market cap of $746.54 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 2.83 and a beta of 1.08. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $190.88 and a fifty-two week high of $280.25. The firm has a fifty day moving average price of $248.89 and a two-hundred day moving average price of $250.21.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the previous year, the firm posted $4.44 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.08%. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

About JPMorgan Chase & Co.

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.