Marotta Asset Management Increases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Marotta Asset Management boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,579 shares of the financial services provider’s stock after acquiring an additional 274 shares during the period. Marotta Asset Management’s holdings in JPMorgan Chase & Co. were worth $633,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Redwood Park Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $29,000. Sellwood Investment Partners LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth $34,000. Investment Counsel Co. of Nevada purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth $37,000. Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter worth $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $43,000. 71.55% of the stock is owned by institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CFO Jeremy Barnum sold 40,014 shares of the 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 completion of the transaction, the chief financial officer now owns 18,017 shares of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the firm’s stock in a transaction dated 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 now owns 36,520 shares of the company’s stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,594 shares of company stock valued at $23,991,061. Corporate insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $295.00 target price (up previously from $260.00) on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Royal Bank of Canada restated an “outperform” rating and issued a $285.00 target price (up previously from $255.00) on shares of JPMorgan Chase & Co. in a report on Tuesday, May 20th. Evercore ISI lowered their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $235.00 to $236.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Finally, Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.65.

JPMorgan Chase & Co. Stock Down 0.7%

NYSE JPM opened at $263.46 on Thursday. The stock’s 50-day moving average price is $245.28 and its 200-day moving average price is $248.79. The company has a market capitalization of $732.18 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52 week low of $190.88 and a 52 week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. The business had revenue of $45.30 billion during the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $4.44 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, July 3rd. 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.