Reliant Investment Management LLC Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Reliant Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 17.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,068 shares of the financial services provider’s stock after purchasing an additional 157 shares during the quarter. Reliant Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Gateway Investment Advisers LLC increased its holdings in JPMorgan Chase & Co. by 0.8% during the 1st quarter. Gateway Investment Advisers LLC now owns 707,934 shares of the financial services provider’s stock worth $173,656,000 after purchasing an additional 5,475 shares during the period. Stokes Capital Advisors LLC increased its holdings in JPMorgan Chase & Co. by 0.9% during the 1st quarter. Stokes Capital Advisors LLC now owns 46,089 shares of the financial services provider’s stock worth $11,306,000 after purchasing an additional 398 shares during the period. Independence Bank of Kentucky increased its holdings in JPMorgan Chase & Co. by 2.1% during the 1st quarter. Independence Bank of Kentucky now owns 92,782 shares of the financial services provider’s stock worth $22,759,000 after purchasing an additional 1,920 shares during the period. Sara Bay Financial increased its holdings in JPMorgan Chase & Co. by 0.5% during the 1st quarter. Sara Bay Financial now owns 63,079 shares of the financial services provider’s stock worth $15,319,000 after purchasing an additional 315 shares during the period. Finally, Impact Capital Partners LLC increased its holdings in JPMorgan Chase & Co. by 4.2% during the 1st quarter. Impact Capital Partners LLC now owns 17,258 shares of the financial services provider’s stock worth $4,233,000 after purchasing an additional 694 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. The trade was a 15.78% 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 the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,722 shares of company stock worth $25,599,477. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Up 1.5%

Shares of NYSE:JPM opened at $265.81 on Friday. The business’s 50-day moving average is $247.68 and its 200 day moving average is $249.92. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The firm has a market capitalization of $738.71 billion, a P/E ratio of 13.47, 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. (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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. During the same period in the prior year, the company posted $4.44 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.11%. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on JPM shares. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. KGI Securities began coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating on the stock. Piper Sandler reiterated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Truist Financial lifted their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a report on Monday, June 2nd. Finally, Evercore ISI cut their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $267.15.

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.