RedJay Asset Management Inc. Invests $2.70 Million in JPMorgan Chase & Co. (NYSE:JPM)

RedJay Asset Management Inc. purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,000 shares of the financial services provider’s stock, valued at approximately $2,698,000. JPMorgan Chase & Co. makes up about 1.5% of RedJay Asset Management Inc.’s holdings, making the stock its 25th biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Redwood Park Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $29,000. Curat Global LLC bought a new position in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Sellwood Investment Partners LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $34,000. Investment Counsel Co. of Nevada bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the transaction, the general counsel owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jennifer Piepszak sold 6,129 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.76, for a total transaction of $1,536,908.04. Following the completion of the transaction, the chief operating officer directly owned 68,583 shares in the company, valued at approximately $17,197,873.08. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock worth $18,060,015 over the last quarter. Company insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on JPM shares. UBS Group lifted their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. Piper Sandler reissued a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $236.00 to $240.00 and gave the company an “equal weight” rating in a research note on Monday, June 23rd. TD Securities reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Finally, Wall Street Zen raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $277.74.

JPMorgan Chase & Co. Stock Performance

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

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping 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 firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the business posted $4.44 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business 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 dividend of $1.40 per share. The ex-dividend date 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 dividend payout ratio (DPR) is presently 27.49%.

JPMorgan Chase & Co. Company 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.