Elkhorn Partners Limited Partnership Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Elkhorn Partners Limited Partnership bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,000 shares of the financial services provider’s stock, valued at approximately $601,000. JPMorgan Chase & Co. makes up approximately 0.4% of Elkhorn Partners Limited Partnership’s portfolio, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in JPM. Icon Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 93.3% during the first quarter. Icon Wealth Advisors LLC now owns 21,994 shares of the financial services provider’s stock valued at $4,405,000 after acquiring an additional 10,615 shares during the period. Industrial Alliance Investment Management Inc. raised its holdings in shares of JPMorgan Chase & Co. by 3.3% in the first quarter. Industrial Alliance Investment Management Inc. now owns 5,473 shares of the financial services provider’s stock worth $1,096,000 after buying an additional 176 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in JPMorgan Chase & Co. by 32.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 6,374 shares of the financial services provider’s stock worth $1,277,000 after purchasing an additional 1,569 shares during the period. Benchmark Investment Advisors LLC increased its holdings in JPMorgan Chase & Co. by 34.4% during the 1st quarter. Benchmark Investment Advisors LLC now owns 5,853 shares of the financial services provider’s stock worth $1,172,000 after purchasing an additional 1,498 shares during the period. Finally, Waverly Advisors LLC increased its holdings in shares of JPMorgan Chase & Co. by 71.4% in the 1st quarter. Waverly Advisors LLC now owns 78,232 shares of the financial services provider’s stock valued at $15,670,000 after acquiring an additional 32,587 shares during the period. Institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. BMO Capital Markets boosted their target price on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Barclays upped their price objective on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, UBS Group upped their price target on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.17.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM traded down $1.04 during mid-day trading on Wednesday, reaching $214.15. The stock had a trading volume of 3,929,001 shares, compared to its average volume of 9,181,772. JPMorgan Chase & Co. has a twelve month low of $135.19 and a twelve month high of $217.56. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. The firm has a market capitalization of $614.97 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 2.47 and a beta of 1.12. The business has a 50 day simple moving average of $203.00 and a 200 day simple moving average of $192.51.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, July 12th. The financial services provider reported $6.12 EPS for the quarter, topping the consensus estimate of $4.19 by $1.93. The firm had revenue of $50.80 billion during the quarter, compared to analysts’ expectations of $42.23 billion. JPMorgan Chase & Co. had a net margin of 20.32% and a return on equity of 17.26%. During the same period in the previous year, the company earned $4.37 EPS. On average, analysts expect that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.15%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now directly owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Robin Leopold sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $198.86, for a total transaction of $596,580.00. Following the sale, the insider now owns 44,113 shares in the company, valued at $8,772,311.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 5,086 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $199.54, for a total transaction of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares in the company, valued at approximately $42,355,358.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,343 shares of company stock valued at $14,137,789. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

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.