Alta Advisers Ltd Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Alta Advisers Ltd raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 55.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,524 shares of the financial services provider’s stock after purchasing an additional 5,200 shares during the quarter. JPMorgan Chase & Co. makes up about 1.5% of Alta Advisers Ltd’s holdings, making the stock its 14th biggest holding. Alta Advisers Ltd’s holdings in JPMorgan Chase & Co. were worth $3,563,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in JPM. Brighton Jones LLC increased its position in JPMorgan Chase & Co. by 11.0% during the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock valued at $11,682,000 after purchasing an additional 4,841 shares during the period. SOA Wealth Advisors LLC. increased its position in JPMorgan Chase & Co. by 1.2% during the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider’s stock valued at $5,115,000 after purchasing an additional 255 shares during the period. Bank Pictet & Cie Europe AG increased its position in JPMorgan Chase & Co. by 0.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider’s stock valued at $46,068,000 after purchasing an additional 1,229 shares during the period. Highview Capital Management LLC DE increased its position in JPMorgan Chase & Co. by 16.1% during the 4th quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider’s stock valued at $3,266,000 after purchasing an additional 1,893 shares during the period. Finally, Magnolia Private Wealth LLC purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter worth about $657,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $296.13 on Monday. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $296.40. The company’s 50-day moving average is $266.97 and its 200 day moving average is $254.88. The company has a market capitalization of $822.96 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89.

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

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Analyst Ratings Changes

A number of research firms have recently weighed in on JPM. Truist Financial upped their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a “hold” rating in a research report on Monday, June 2nd. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 17th. Evercore ISI upped their target price on shares of JPMorgan Chase & Co. from $280.00 to $298.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Robert W. Baird downgraded shares of JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $235.00 target price on the stock. in a research report on Friday, June 27th. Finally, Bank of America upped their target price on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $277.74.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the sale, the director owned 91,539 shares of the company’s stock, valued at $22,884,750. This trade represents a 9.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer directly owned 18,017 shares in the company, valued at approximately $4,518,123.09. The trade was a 68.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is owned by insiders.

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.