Purus Wealth Management LLC Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Purus Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 21.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,555 shares of the financial services provider’s stock after buying an additional 1,836 shares during the quarter. JPMorgan Chase & Co. comprises 1.0% of Purus Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Purus Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in JPMorgan Chase & Co. by 10.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,657 shares of the financial services provider’s stock valued at $5,461,000 after purchasing an additional 3,471 shares in the last quarter. PGIM Custom Harvest LLC lifted its stake in shares of JPMorgan Chase & Co. by 13.0% in the 3rd quarter. PGIM Custom Harvest LLC now owns 3,190 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 367 shares during the last quarter. Operose Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 161.7% during the third quarter. Operose Advisors LLC now owns 3,271 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 2,021 shares during the period. One Charles Private Wealth Services LLC grew its holdings in JPMorgan Chase & Co. by 2.2% in the 3rd quarter. One Charles Private Wealth Services LLC now owns 11,450 shares of the financial services provider’s stock worth $1,660,000 after acquiring an additional 241 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its holdings in JPMorgan Chase & Co. by 44.0% during the 3rd quarter. OMERS ADMINISTRATION Corp now owns 642,764 shares of the financial services provider’s stock valued at $93,214,000 after purchasing an additional 196,300 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James Dimon sold 178,222 shares of the business’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 owns 264,461 shares of the company’s stock, valued at $48,708,426.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 3,000 shares of JPMorgan Chase & Co. stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $198.86, for a total value of $596,580.00. Following the completion of the sale, the insider now owns 44,113 shares in the company, valued at $8,772,311.18. The disclosure for this sale can be found here. Insiders sold a total of 250,565 shares of company stock worth $46,962,717 in the last 90 days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM traded up $2.34 on Monday, hitting $198.64. 1,487,102 shares of the company were exchanged, compared to its average volume of 9,183,603. The firm has a market capitalization of $570.43 billion, a P/E ratio of 11.85, a price-to-earnings-growth ratio of 2.67 and a beta of 1.12. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $205.88. The stock’s 50 day moving average price is $195.20 and its 200 day moving average price is $184.87.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, topping 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 company had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.41 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have commented on JPM shares. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a report on Tuesday, May 21st. Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. StockNews.com cut JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. UBS Group raised their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, Robert W. Baird boosted their target price on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.10.

About JPMorgan Chase & Co.

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.