JPMorgan Chase & Co. $JPM Shares Acquired by Meyer Handelman Co.

Meyer Handelman Co. raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 313,274 shares of the financial services provider’s stock after purchasing an additional 7,626 shares during the period. JPMorgan Chase & Co. accounts for 2.9% of Meyer Handelman Co.’s investment portfolio, making the stock its 4th largest holding. Meyer Handelman Co.’s holdings in JPMorgan Chase & Co. were worth $92,153,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Timmons Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $32,000. MBM Wealth Consultants LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter valued at approximately $29,000. Osbon Capital Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $35,000. Finally, Turning Point Benefit Group Inc. purchased a new position in JPMorgan Chase & Co. during the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Jeremy Barnum sold 3,022 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $309.41, for a total transaction of $935,037.02. Following the transaction, the chief financial officer owned 32,438 shares of the company’s stock, valued at approximately $10,036,641.58. This represents a 8.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the sale, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 33,623 shares of company stock valued at $10,427,835 in the last ninety days. Insiders own 0.41% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $328.73 on Monday. JPMorgan Chase & Co. has a fifty-two week low of $279.10 and a fifty-two week high of $343.45. The company has a market capitalization of $880.83 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.53 and a beta of 1.00. The stock has a fifty day moving average of $311.44 and a two-hundred day moving average of $308.38. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.86 and a current ratio of 0.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.44. The business had revenue of $50.54 billion for the quarter, compared to the consensus estimate of $48.30 billion. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $5.07 earnings per share. On average, analysts anticipate that JPMorgan Chase & Co. will post 22.43 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, July 6th. JPMorgan Chase & Co.’s dividend payout ratio is 28.74%.

More JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

• Positive Sentiment: JPMorgan cleared the Federal Reserve’s annual stress test, reinforcing that the bank is well capitalized and can withstand a severe downturn. That result supports higher payouts and helps confirm the firm’s balance-sheet strength. Article Title
• Positive Sentiment: The board approved a 10% dividend increase and a new $50 billion share buyback, which is a strong signal of confidence in earnings power and capital generation. Article Title
• Positive Sentiment: The stock recently hit an all-time high as investors reacted favorably to the dividend boost, buyback authorization, and ongoing confidence in JPMorgan’s earnings and capital return profile. Article Title

Analyst Ratings Changes

JPM has been the subject of a number of analyst reports. Autonomous Res cut their target price on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating for the company in a research note on Monday, April 6th. DZ Bank reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, April 15th. Jefferies Financial Group reissued a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Thursday. HSBC raised their price target on JPMorgan Chase & Co. from $288.00 to $312.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group set a $361.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, April 14th. Fourteen analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $339.58.

About JPMorgan Chase & Co.

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.