Sovereign Financial Group Inc. Acquires 413 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Sovereign Financial Group Inc. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,163 shares of the financial services provider’s stock after purchasing an additional 413 shares during the period. Sovereign Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,034,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. RMR Wealth Builders grew its holdings in JPMorgan Chase & Co. by 5.3% in the 1st quarter. RMR Wealth Builders now owns 30,382 shares of the financial services provider’s stock valued at $6,086,000 after buying an additional 1,526 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in JPMorgan Chase & Co. by 1.2% during the first quarter. Sunbelt Securities Inc. now owns 28,529 shares of the financial services provider’s stock worth $5,714,000 after buying an additional 332 shares during the period. Davis Investment Partners LLC increased its position in shares of JPMorgan Chase & Co. by 1.3% during the first quarter. Davis Investment Partners LLC now owns 6,187 shares of the financial services provider’s stock valued at $1,210,000 after acquiring an additional 81 shares during the last quarter. Chemistry Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 5.1% in the 1st quarter. Chemistry Wealth Management LLC now owns 39,084 shares of the financial services provider’s stock valued at $7,828,000 after acquiring an additional 1,910 shares during the period. Finally, CFM Wealth Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 2.8% during the 1st quarter. CFM Wealth Partners LLC now owns 28,179 shares of the financial services provider’s stock worth $5,644,000 after purchasing an additional 779 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at approximately $48,708,426.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the sale, the general counsel now directly owns 42,124 shares in the company, valued at $8,452,180.60. The disclosure for this sale can be found here. Insiders have sold a total of 250,565 shares of company stock worth $46,962,717 in the last quarter. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of several analyst reports. Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. UBS Group lifted their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. Finally, Evercore ISI lifted their price target on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $199.20 on Friday. The company has a market cap of $572.04 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 2.66 and a beta of 1.12. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $205.88. The business has a fifty day moving average of $196.22 and a two-hundred day moving average of $185.53. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The business had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. As a group, analysts predict that JPMorgan Chase & Co. will post 16.44 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders 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 dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

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.