Alexander Labrunerie & CO. Inc. Makes New $6.75 Million Investment in JPMorgan Chase & Co. (NYSE:JPM)

Alexander Labrunerie & CO. Inc. bought a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 33,713 shares of the financial services provider’s stock, valued at approximately $6,753,000. JPMorgan Chase & Co. comprises about 3.8% of Alexander Labrunerie & CO. Inc.’s holdings, making the stock its 7th largest holding.

Several other hedge funds have also modified their holdings of the stock. Wellington Wealth Strategies LLC. purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $1,145,000. Etfidea LLC lifted its position in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 100 shares in the last quarter. Cooper Financial Group raised its holdings in JPMorgan Chase & Co. by 12.8% in the first quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after acquiring an additional 984 shares in the last quarter. Sutton Place Investors LLC raised its holdings in JPMorgan Chase & Co. by 179.5% in the fourth quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock valued at $2,228,000 after acquiring an additional 8,412 shares in the last quarter. Finally, Spartan Planning & Wealth Management raised its holdings in JPMorgan Chase & Co. by 257.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after acquiring an additional 2,722 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the transaction, the insider now owns 217,351 shares in the company, valued at $42,087,847.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total value of $984,853.04. Following the transaction, the insider now owns 217,351 shares in the company, valued at $42,087,847.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the transaction, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,343 shares of company stock worth $14,137,789. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 4.2 %

JPM stock traded down $8.82 during mid-day trading on Friday, reaching $199.14. 18,041,676 shares of the stock traded hands, compared to its average volume of 9,240,251. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56. The company has a market cap of $571.86 billion, a P/E ratio of 11.11, a P/E/G ratio of 2.42 and a beta of 1.12. The stock’s fifty day moving average is $203.48 and its 200-day moving average is $192.96.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, beating analysts’ consensus estimates of $4.19 by $1.93. The company had revenue of $50.80 billion for the quarter, compared to the consensus estimate of $42.23 billion. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. During the same quarter in the prior year, the company earned $4.37 EPS. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 16.78 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were issued a $1.15 dividend. The ex-dividend date of this dividend was Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.31%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $195.00 to $205.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Citigroup boosted their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average target price of $205.71.

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.