Cypress Asset Management Inc. TX Invests $14.61 Million in JPMorgan Chase & Co. (NYSE:JPM)

Cypress Asset Management Inc. TX purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 59,529 shares of the financial services provider’s stock, valued at approximately $14,606,000. JPMorgan Chase & Co. comprises about 3.6% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 7th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at $471,000. Disciplined Investments LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $217,000. LGT Group Foundation lifted its holdings in JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after purchasing an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. lifted its holdings in JPMorgan Chase & Co. by 11.1% in the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after purchasing an additional 4,375 shares in the last quarter. Finally, Jag Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 10.5% in the 4th quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel now directly owns 36,520 shares of the company’s stock, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the completion of the transaction, the director now directly owns 91,539 shares in the company, valued at $22,884,750. This represents a 9.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,594 shares of company stock valued at $23,991,061 over the last three months. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on JPM shares. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 price objective on the stock. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Evercore ISI lowered their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $285.00 price target (up previously from $255.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $266.20.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $260.77 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market capitalization of $724.70 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year high of $280.25. The stock’s fifty day moving average is $243.88 and its two-hundred day moving average is $248.33.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. 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 analysts’ expectations of $43.62 billion. During the same period last year, the business posted $4.44 earnings per share. 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 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.