Red Door Wealth Management LLC Buys 2,555 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Red Door Wealth Management LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,225 shares of the financial services provider’s stock after buying an additional 2,555 shares during the quarter. JPMorgan Chase & Co. makes up about 2.6% of Red Door Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. Red Door Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $17,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. WASHINGTON TRUST Co boosted its stake in JPMorgan Chase & Co. by 16.5% in the 1st quarter. WASHINGTON TRUST Co now owns 220,937 shares of the financial services provider’s stock valued at $54,196,000 after buying an additional 31,261 shares in the last quarter. Insight Inv LLC boosted its stake in JPMorgan Chase & Co. by 111.8% in the 1st quarter. Insight Inv LLC now owns 29,376 shares of the financial services provider’s stock valued at $7,206,000 after buying an additional 15,504 shares in the last quarter. Nabity Jensen Investment Management Inc boosted its stake in JPMorgan Chase & Co. by 1.6% in the 1st quarter. Nabity Jensen Investment Management Inc now owns 6,991 shares of the financial services provider’s stock valued at $1,715,000 after buying an additional 107 shares in the last quarter. Argent Advisors Inc. boosted its stake in JPMorgan Chase & Co. by 2.0% in the 1st quarter. Argent Advisors Inc. now owns 29,378 shares of the financial services provider’s stock valued at $7,206,000 after buying an additional 572 shares in the last quarter. Finally, Custos Family Office LLC boosted its stake in JPMorgan Chase & Co. by 20.6% in the 1st quarter. Custos Family Office LLC now owns 1,372 shares of the financial services provider’s stock valued at $337,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup reiterated a “neutral” rating and issued a $275.00 price objective (up previously from $250.00) on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 25th. Truist Financial upped their price objective on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a report on Monday, June 2nd. Baird R W downgraded JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Friday, June 27th. Robert W. Baird downgraded JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 price objective for the company. in a report on Friday, June 27th. Finally, TD Cowen initiated coverage on JPMorgan Chase & Co. in a report on Thursday, May 15th. They issued a “buy” rating and a $305.00 price target for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $277.74.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $296.13 on Friday. The stock has a 50 day moving average price of $266.97 and a 200 day moving average price of $254.73. JPMorgan Chase & Co. has a 52 week low of $190.90 and a 52 week high of $296.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $822.96 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data 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 16.88% and a net margin of 21.21%. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same period last year, the firm posted $4.44 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. Analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.89%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insiders Place Their Bets

In related news, COO Jennifer Piepszak sold 6,128 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the completion of the sale, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Linda Bammann sold 9,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 sale, the director directly owned 91,539 shares of the company’s stock, valued at approximately $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 71,200 shares of company stock valued at $18,060,015. Corporate insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

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.