Carl P. Sherr & Co. LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 11.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,367 shares of the financial services provider’s stock after acquiring an additional 1,432 shares during the period. JPMorgan Chase & Co. accounts for about 1.3% of Carl P. Sherr & Co. LLC’s investment portfolio, making the stock its 19th biggest holding. Carl P. Sherr & Co. LLC’s holdings in JPMorgan Chase & Co. were worth $1,872,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Adirondack Retirement Specialists Inc. raised its holdings in JPMorgan Chase & Co. by 510.8% during the first quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 189 shares in the last quarter. Boulder Wealth Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Capital Directions Investment Advisors LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $44,000. VitalStone Financial LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $58,000. Finally, Freedom Wealth Alliance LLC bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $60,000. 70.10% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have issued reports on JPM shares. Piper Sandler upped their price target on JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday, July 17th. Oppenheimer boosted their target price on shares of JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” rating in a research note on Monday, April 17th. BMO Capital Markets boosted their price target on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $155.00 to $151.00 in a report on Friday, May 12th. Finally, Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the company a “buy” rating in a report on Monday, April 17th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $164.65.
JPMorgan Chase & Co. Price Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.75. The company had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The business’s revenue for the quarter was up 34.1% compared to the same quarter last year. During the same period last year, the business posted $2.76 earnings per share. As a group, analysts forecast that JPMorgan Chase & Co. will post 15.23 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.55%. JPMorgan Chase & Co.’s payout ratio is 25.74%.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 15th. The shares were sold at an average price of $135.02, for a total value of $167,424.80. Following the sale, the insider now directly owns 45,056 shares in the company, valued at approximately $6,083,461.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Douglas B. Petno sold 4,930 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.16, for a total value of $700,848.80. Following the completion of the transaction, the chief executive officer now owns 277,161 shares of the company’s stock, valued at approximately $39,401,207.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The disclosure for this sale can be found here. Insiders have sold a total of 145,861 shares of company stock worth $19,858,275 over the last ninety days. Company insiders own 0.79% of the company’s stock.
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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