Sweeney & Michel LLC Buys New Shares in JPMorgan Chase & Co. (NYSE:JPM)

Sweeney & Michel LLC bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,436 shares of the financial services provider’s stock, valued at approximately $4,319,000. JPMorgan Chase & Co. makes up about 1.9% of Sweeney & Michel LLC’s holdings, making the stock its 17th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Stone House Investment Management LLC increased its holdings in shares of JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the period. Retirement Group LLC boosted its position in JPMorgan Chase & Co. by 227.1% in the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the first quarter valued at about $34,000. Davidson Capital Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $37,000. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of JPMorgan Chase & Co. during the first quarter worth approximately $40,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup upped their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $209.00 to $211.00 and gave the company a “market perform” rating in a research note on Tuesday, July 9th. Wolfe Research lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Finally, Oppenheimer lifted their price objective on shares of JPMorgan Chase & Co. from $215.00 to $221.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $203.17.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the sale, the insider now owns 6,484 shares in the company, valued at approximately $1,237,860.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the sale, the insider now owns 217,351 shares in the company, valued at $42,087,847.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the completion of the sale, the insider now directly owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The disclosure for this sale can be found here. Insiders sold a total of 72,343 shares of company stock valued at $14,137,789 in the last ninety days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

JPM traded down $1.04 during trading on Wednesday, hitting $214.15. The company’s stock had a trading volume of 3,929,001 shares, compared to its average volume of 9,181,772. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The business’s fifty day simple moving average is $203.00 and its 200 day simple moving average is $192.51. The firm has a market capitalization of $614.97 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 2.47 and a beta of 1.12. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the previous year, the business earned $4.37 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.66%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.