TrueWealth Advisors LLC grew its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,175 shares of the financial services provider’s stock after acquiring an additional 416 shares during the period. TrueWealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $544,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P increased its stake in JPMorgan Chase & Co. by 81.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after buying an additional 99,636 shares during the period. BCK Partners Inc. purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth $2,455,000. LSV Asset Management increased its stake in JPMorgan Chase & Co. by 35.6% during the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after buying an additional 9,800 shares during the period. Wsfs Capital Management LLC increased its stake in JPMorgan Chase & Co. by 70.8% during the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after buying an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC increased its position in shares of JPMorgan Chase & Co. by 1,451.4% in the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 3,527 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.
JPMorgan Chase & Co. Trading Up 0.7 %
JPMorgan Chase & Co. stock opened at $146.48 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $138.87 and a two-hundred day moving average price of $136.92. The firm has a market capitalization of $428.06 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a 52-week low of $101.28 and a 52-week high of $147.48.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Thursday, July 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is 29.52%.
Insider Transactions at JPMorgan Chase & Co.
In other news, insider Ashley Bacon sold 16,766 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.00, for a total value of $2,263,410.00. Following the completion of the sale, the insider now directly owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the sale, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ashley Bacon sold 16,766 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the completion of the sale, the insider now directly owns 195,356 shares of the company’s stock, valued at $26,373,060. The disclosure for this sale can be found here. In the last three months, insiders sold 145,861 shares of company stock valued at $19,858,275. Company insiders own 0.79% of the company’s stock.
Analysts Set New Price Targets
JPM has been the subject of several research analyst reports. Barclays dropped their target price on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. Royal Bank of Canada dropped their target price on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research report on Monday, April 17th. Evercore ISI dropped their target price on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Finally, Jefferies Financial Group dropped their target price on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a research report on Monday, May 15th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $157.35.
About JPMorgan Chase & Co.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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