Salomon & Ludwin LLC Acquires 2,140 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Salomon & Ludwin LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 74.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,011 shares of the financial services provider’s stock after acquiring an additional 2,140 shares during the quarter. Salomon & Ludwin LLC’s holdings in JPMorgan Chase & Co. were worth $1,229,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in JPM. Redwood Park Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $29,000. Curat Global LLC purchased a new stake in JPMorgan Chase & Co. in the 1st quarter valued at about $33,000. Sellwood Investment Partners LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $37,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $43,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 1.4%

JPMorgan Chase & Co. stock opened at $296.13 on Monday. JPMorgan Chase & Co. has a 1-year low of $190.90 and a 1-year high of $296.40. The firm has a market capitalization of $822.96 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a 50 day simple moving average of $266.97 and a 200 day simple moving average of $254.88.

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 for the quarter, beating analysts’ consensus estimates 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 business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. During the same period in the previous year, the business earned $4.44 EPS. JPMorgan Chase & Co.’s revenue was up 8.0% compared to the same quarter last year. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

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

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel directly owned 36,520 shares of the company’s stock, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last quarter. 0.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on JPM. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 27th. Morgan Stanley increased their price objective 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. 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 note on Wednesday, June 25th. Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a research note on Monday, June 2nd. Finally, Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $277.74.

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.