Redmond Asset Management LLC Increases Position in JPMorgan Chase & Co. $JPM

Redmond Asset Management LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,006 shares of the financial services provider’s stock after buying an additional 269 shares during the quarter. JPMorgan Chase & Co. comprises 2.8% of Redmond Asset Management LLC’s portfolio, making the stock its largest position. Redmond Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $11,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of JPM. Florida Financial Advisors LLC raised its holdings in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider’s stock worth $2,416,000 after purchasing an additional 3,792 shares in the last quarter. Mosaic Financial Group LLC grew its position in shares of JPMorgan Chase & Co. by 0.8% in the 1st quarter. Mosaic Financial Group LLC now owns 9,296 shares of the financial services provider’s stock worth $2,280,000 after buying an additional 78 shares during the period. Morse Asset Management Inc grew its position in shares of JPMorgan Chase & Co. by 19.5% in the 1st quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider’s stock worth $630,000 after buying an additional 420 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in shares of JPMorgan Chase & Co. by 11.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock worth $3,838,000 after acquiring an additional 1,561 shares in the last quarter. Finally, Woodward Diversified Capital LLC lifted its position in JPMorgan Chase & Co. by 3.4% during the 1st quarter. Woodward Diversified Capital LLC now owns 8,032 shares of the financial services provider’s stock valued at $1,970,000 after acquiring an additional 263 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the transaction, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 966 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the sale, the insider directly owned 58,479 shares in the company, valued at approximately $18,240,769.68. The trade was a 1.63% decrease in their position. The SEC filing for this sale provides additional information. 0.47% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $314.30 on Friday. The stock’s 50 day simple moving average is $306.18 and its 200 day simple moving average is $286.92. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $318.01. The stock has a market capitalization of $864.26 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.24. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The business had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.42 billion. During the same quarter last year, the company earned $4.37 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, October 6th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on JPM shares. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Loop Capital set a $310.00 price target on JPMorgan Chase & Co. in a research report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, July 16th. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.38.

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.