RedJay Asset Management Inc. Purchases New Position in JPMorgan Chase & Co. (NYSE:JPM)

RedJay Asset Management Inc. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 11,000 shares of the financial services provider’s stock, valued at approximately $2,698,000. JPMorgan Chase & Co. comprises approximately 1.5% of RedJay Asset Management Inc.’s investment portfolio, making the stock its 25th biggest position.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after buying an additional 876,417 shares in the last quarter. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $8,310,884,000. Northern Trust Corp lifted its position in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock worth $8,113,147,000 after buying an additional 4,515,147 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock worth $5,778,289,000 after buying an additional 23,465,278 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of JPMorgan Chase & Co. by 9.1% during the 4th quarter. Capital Research Global Investors now owns 22,841,033 shares of the financial services provider’s stock worth $5,475,223,000 after buying an additional 1,914,049 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director owned 91,539 shares in the company, valued at approximately $22,884,750. The trade was a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Stacey Friedman sold 2,821 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total transaction of $749,567.91. Following the completion of the transaction, the general counsel owned 68,757 shares in the company, valued at $18,269,422.47. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,200 shares of company stock valued at $18,060,015. Company insiders own 0.47% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $296.13 on Friday. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $296.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $822.96 billion, a P/E ratio of 14.54, a P/E/G ratio of 2.75 and a beta of 1.10. The company has a fifty day moving average of $266.97 and a 200-day moving average of $254.73.

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 the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $4.44 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.49%.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Royal Bank Of Canada set a $305.00 price target on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a research note on Monday, June 30th. Cowen restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Evercore ISI raised their price target on shares of JPMorgan Chase & Co. from $280.00 to $298.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, Piper Sandler restated a “hold” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Hold” and a consensus target price of $277.74.

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.