JPMorgan Chase & Co. (NYSE:JPM) Position Boosted by Meyer Handelman Co.

Meyer Handelman Co. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 8.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 283,626 shares of the financial services provider’s stock after purchasing an additional 22,518 shares during the quarter. JPMorgan Chase & Co. makes up approximately 2.0% of Meyer Handelman Co.’s portfolio, making the stock its 9th largest position. Meyer Handelman Co.’s holdings in JPMorgan Chase & Co. were worth $56,810,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of JPMorgan Chase & Co. by 10.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 37,657 shares of the financial services provider’s stock valued at $5,461,000 after buying an additional 3,471 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of JPMorgan Chase & Co. by 2.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 20,708 shares of the financial services provider’s stock valued at $3,003,000 after purchasing an additional 460 shares in the last quarter. PGIM Custom Harvest LLC lifted its stake in shares of JPMorgan Chase & Co. by 13.0% in the 3rd quarter. PGIM Custom Harvest LLC now owns 3,190 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 367 shares during the last quarter. Operose Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 161.7% in the 3rd quarter. Operose Advisors LLC now owns 3,271 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 2,021 shares during the last quarter. Finally, One Charles Private Wealth Services LLC increased its position in JPMorgan Chase & Co. by 2.2% during the third quarter. One Charles Private Wealth Services LLC now owns 11,450 shares of the financial services provider’s stock worth $1,660,000 after buying an additional 241 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, May 21st. Piper Sandler increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. UBS Group boosted their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Finally, Evercore ISI upped their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. One equities 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.10.

Read Our Latest Research Report on JPM

Insider Activity

In related news, CEO James Dimon sold 178,222 shares of the stock in a transaction that occurred on 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 $48,708,426.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the transaction, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,485 shares of company stock valued at $47,728,528. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $196.30 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $195.20 and a 200 day simple moving average of $184.67. JPMorgan Chase & Co. has a fifty-two week low of $135.19 and a fifty-two week high of $205.88. The firm has a market cap of $563.71 billion, a P/E ratio of 11.85, a P/E/G ratio of 2.67 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last released its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion during 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%. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.41 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.34%. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

JPMorgan Chase & Co. Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMFree Report).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.