Miracle Mile Advisors LLC Grows Stake in JPMorgan Chase & Co. (NYSE:JPM)

Miracle Mile Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,615 shares of the financial services provider’s stock after purchasing an additional 2,086 shares during the period. Miracle Mile Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $12,542,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Trust Co of the South raised its stake in shares of JPMorgan Chase & Co. by 1.1% in the first quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock worth $991,000 after buying an additional 53 shares during the period. PFW Advisors LLC increased its holdings in JPMorgan Chase & Co. by 1.1% in the 1st quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock worth $1,048,000 after acquiring an additional 55 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. raised its stake in JPMorgan Chase & Co. by 2.0% during the 1st quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,837 shares of the financial services provider’s stock worth $568,000 after acquiring an additional 55 shares during the period. Oarsman Capital Inc. lifted its holdings in JPMorgan Chase & Co. by 0.5% during the fourth quarter. Oarsman Capital Inc. now owns 11,008 shares of the financial services provider’s stock valued at $1,872,000 after purchasing an additional 59 shares in the last quarter. Finally, Curbstone Financial Management Corp boosted its position in shares of JPMorgan Chase & Co. by 0.3% in the fourth quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after purchasing an additional 60 shares during the period. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.1 %

Shares of NYSE:JPM opened at $208.69 on Friday. The company has a market cap of $599.29 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 2.80 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $210.38. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a 50-day moving average price of $197.87 and a 200 day moving average price of $187.03.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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. The business had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 16.45 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.20%. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Analyst Ratings Changes

JPM has been the topic of several recent analyst reports. Oppenheimer decreased their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. UBS Group raised their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. StockNews.com raised JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their price target on JPMorgan Chase & Co. from $230.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.65.

Insiders Place Their Bets

In other news, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction on Monday, May 6th. The shares were 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 of the company’s stock, valued at $1,237,860.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other JPMorgan Chase & Co. news, insider Elena A. Korablina sold 21,829 shares of the business’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 transaction of $4,167,374.39. Following the completion of the transaction, the insider now owns 6,484 shares in the company, valued at $1,237,860.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Dimon sold 178,222 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the sale, the chief executive officer now owns 264,461 shares in the company, valued at $48,708,426.98. The disclosure for this sale can be found here. Insiders sold 250,565 shares of company stock valued at $46,962,717 over the last three months. 0.79% of the stock is owned by company insiders.

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.