JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Meyer Handelman Co.

Meyer Handelman Co. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 299,544 shares of the financial services provider’s stock after purchasing an additional 1,043 shares during the period. JPMorgan Chase & Co. accounts for approximately 2.6% of Meyer Handelman Co.’s investment portfolio, making the stock its 8th biggest position. Meyer Handelman Co.’s holdings in JPMorgan Chase & Co. were worth $73,478,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the last quarter. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at about $8,310,884,000. Northern Trust Corp grew its stake in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after acquiring an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC grew its stake in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after acquiring an additional 23,465,278 shares in the last quarter. Finally, Capital Research Global Investors grew its stake in JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock valued at $5,475,223,000 after acquiring an additional 1,914,049 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.2%

JPM stock opened at $263.97 on Friday. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25. The company has a market capitalization of $733.60 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The firm’s 50-day moving average is $245.86 and its two-hundred day moving average is $249.13. 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. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.44 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.49%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on JPM shares. Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. TD Securities upped their price objective on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Piper Sandler reaffirmed an “overweight” rating and set a $295.00 price objective (up previously from $260.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research note on Sunday, April 13th. They set a “hold” rating for the company. Finally, Truist Financial set a $270.00 price objective on shares of JPMorgan Chase & Co. in a research note on Friday, May 23rd. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $266.65.

Insider Transactions at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the sale, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction that occurred on 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 sale, the general counsel now owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 0.47% of the company’s stock.

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.