Miracle Mile Advisors LLC Has $25.81 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Miracle Mile Advisors LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,219 shares of the financial services provider’s stock after buying an additional 624 shares during the quarter. Miracle Mile Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $25,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of JPM. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter worth $29,000. Curat Global LLC acquired a new stake in JPMorgan Chase & Co. during the 1st quarter worth $33,000. Sellwood Investment Partners LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $34,000. Investment Counsel Co. of Nevada acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $37,000. Finally, Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $43,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the topic of a number of research analyst reports. KGI Securities initiated coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a “hold” rating on the stock. Royal Bank of Canada restated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. TD Securities restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday. Bank of America dropped their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Robert W. Baird raised their price objective on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, May 20th. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $267.15.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were 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 directly owns 62,455 shares in the company, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,722 shares of company stock valued at $25,599,477 in the last 90 days. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Up 1.5%

Shares of JPM stock opened at $265.81 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The firm’s fifty day moving average price is $247.68 and its two-hundred day moving average price is $249.92. The firm has a market capitalization of $738.71 billion, a P/E ratio of 13.47, a PEG ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. JPMorgan Chase & Co.’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.44 earnings per share. On average, equities analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

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

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.