Richardson Capital Management LLC Takes $34,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Richardson Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 170 shares of the financial services provider’s stock, valued at approximately $34,000.

A number of other hedge funds have also recently made changes to their positions in the company. River Street Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 4.7% during the first quarter. River Street Advisors LLC now owns 18,651 shares of the financial services provider’s stock valued at $3,736,000 after purchasing an additional 841 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new position in shares of JPMorgan Chase & Co. in the first quarter worth approximately $266,000. New Mexico Educational Retirement Board lifted its stake in shares of JPMorgan Chase & Co. by 13.0% in the first quarter. New Mexico Educational Retirement Board now owns 171,850 shares of the financial services provider’s stock worth $34,422,000 after acquiring an additional 19,800 shares during the period. Guidance Capital Inc. lifted its stake in shares of JPMorgan Chase & Co. by 146.3% in the first quarter. Guidance Capital Inc. now owns 7,664 shares of the financial services provider’s stock worth $1,402,000 after acquiring an additional 4,552 shares during the period. Finally, Atticus Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 28.6% in the first quarter. Atticus Wealth Management LLC now owns 3,138 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 698 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lori A. Beer sold 5,298 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $200.64, for a total value of $1,062,990.72. Following the sale, the insider now directly owns 46,375 shares of the company’s stock, valued at $9,304,680. 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. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on JPM. BMO Capital Markets cut their price objective on 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 price objective on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. UBS Group lifted their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Finally, Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Trading Up 1.6 %

NYSE JPM opened at $208.83 on Wednesday. The company has a market cap of $599.69 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 2.72 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $135.19 and a 52 week high of $208.86. The business has a 50 day moving average price of $197.23 and a 200-day moving average price of $186.57. 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 EPS 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 return on equity of 17.79% and a net margin of 20.05%. As a group, equities analysts expect that JPMorgan Chase & Co. will post 16.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

JPMorgan Chase & Co. 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.