Avalon Capital Management Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Avalon Capital Management raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 4.9% during the 1st quarter, Holdings Channel reports. The firm owned 1,653 shares of the financial services provider’s stock after purchasing an additional 77 shares during the quarter. Avalon Capital Management’s holdings in JPMorgan Chase & Co. were worth $331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Wealth Strategies LLC. purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $1,145,000. Etfidea LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after buying an additional 100 shares during the period. Cooper Financial Group lifted its stake in shares of JPMorgan Chase & Co. by 12.8% during the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after buying an additional 984 shares during the period. Sutton Place Investors LLC lifted its stake in shares of JPMorgan Chase & Co. by 179.5% during the fourth quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock valued at $2,228,000 after buying an additional 8,412 shares during the period. Finally, Spartan Planning & Wealth Management lifted its stake in shares of JPMorgan Chase & Co. by 257.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after buying an additional 2,722 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

JPM has been the topic of several recent analyst reports. Oppenheimer reduced their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Monday, April 15th. Piper Sandler upped their price objective 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. Morgan Stanley reduced their price objective on shares of JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Finally, BMO Capital Markets cut their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $208.83 on Wednesday. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $208.86. The firm has a fifty day moving average of $197.23 and a 200-day moving average of $186.57. The firm has a market capitalization of $599.69 billion, a P/E ratio of 12.61, a PEG ratio of 2.72 and a beta of 1.12. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. As a group, analysts predict that JPMorgan Chase & Co. will post 16.44 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the sale, the general counsel now directly owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the transaction, the insider now directly owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at $8,452,180.60. The disclosure for this sale can be found here. In the last three months, insiders sold 250,565 shares of company stock valued at $46,962,717. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.