Blackston Financial Advisory Group LLC Boosts Position in JPMorgan Chase & Co. (NYSE:JPM)

Blackston Financial Advisory Group LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 9.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,700 shares of the financial services provider’s stock after acquiring an additional 416 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.6% of Blackston Financial Advisory Group LLC’s portfolio, making the stock its 27th biggest position. Blackston Financial Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redwood Park Advisors LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $29,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. during the 1st quarter valued at $33,000. Sellwood Investment Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.6%

Shares of JPM stock opened at $273.83 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $280.25. The stock has a market capitalization of $760.98 billion, a P/E ratio of 13.44, a P/E/G ratio of 2.72 and a beta of 1.08. The firm’s 50 day moving average is $254.66 and its 200 day moving average is $251.00.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period in the prior year, the firm earned $4.44 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is 27.49%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JPM. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. Piper Sandler reissued a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. UBS Group increased their target price on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Finally, Robert W. Baird lifted their price target on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $271.70.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,272 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the completion of the sale, the chief operating officer now directly owns 50,197 shares of the company’s stock, valued at approximately $12,400,164.91. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,722 shares of company stock valued at $25,599,477. 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.