Davis R M Inc. Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Davis R M Inc. increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 346,810 shares of the financial services provider’s stock after buying an additional 4,445 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.7% of Davis R M Inc.’s holdings, making the stock its 16th biggest holding. Davis R M Inc.’s holdings in JPMorgan Chase & Co. were worth $85,072,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Northern Trust Corp increased its position in JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock valued at $2,561,256,000 after purchasing an additional 2,551,899 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in JPMorgan Chase & Co. by 16.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock valued at $4,207,028,000 after purchasing an additional 2,465,572 shares during the period. Finally, APG Asset Management N.V. grew its position in shares of JPMorgan Chase & Co. by 457.7% in the 4th quarter. APG Asset Management N.V. now owns 2,725,473 shares of the financial services provider’s stock worth $630,925,000 after buying an additional 2,236,740 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JPM. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research report on Monday, June 30th. Phillip Securities downgraded shares of JPMorgan Chase & Co. from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Wells Fargo & Company upped their target price on shares of JPMorgan Chase & Co. from $320.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Keefe, Bruyette & Woods upped their target price on shares of JPMorgan Chase & Co. from $327.00 to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Finally, Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 6,608 shares of the stock in a transaction that occurred 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 transaction, the general counsel owned 36,520 shares in the company, valued at $9,703,729.20. This 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, COO Jennifer Piepszak sold 6,128 shares of the 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 transaction, the chief operating officer owned 62,455 shares in the company, valued at $16,392,563.85. This trade represents a 8.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,557 shares of company stock worth $4,113,796 in the last quarter. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $291.23 on Wednesday. The firm’s 50 day moving average price is $282.23 and its 200-day moving average price is $262.14. JPMorgan Chase & Co. has a twelve month low of $194.00 and a twelve month high of $301.29. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $809.35 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter in the prior year, the business earned $6.12 EPS. The business’s quarterly revenue was down 10.5% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is 28.73%.

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.