Berkshire Money Management Inc. Invests $302,000 in JPMorgan Chase & Co. (NYSE:JPM)

Berkshire Money Management Inc. acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,510 shares of the financial services provider’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Schneider Downs Wealth Management Advisors LP grew its stake in shares of JPMorgan Chase & Co. by 238.5% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,786 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 4,781 shares during the last quarter. Richard C. Young & CO. LTD. bought a new position in JPMorgan Chase & Co. in the first quarter worth $9,600,000. MAI Capital Management lifted its position in JPMorgan Chase & Co. by 7.7% in the first quarter. MAI Capital Management now owns 354,167 shares of the financial services provider’s stock worth $70,940,000 after purchasing an additional 25,169 shares during the period. Baltimore Washington Financial Advisors Inc. lifted its position in JPMorgan Chase & Co. by 34.6% in the first quarter. Baltimore Washington Financial Advisors Inc. now owns 107,506 shares of the financial services provider’s stock worth $21,534,000 after purchasing an additional 27,620 shares during the period. Finally, Motley Fool Asset Management LLC lifted its position in JPMorgan Chase & Co. by 4.7% in the first quarter. Motley Fool Asset Management LLC now owns 83,331 shares of the financial services provider’s stock worth $16,691,000 after purchasing an additional 3,723 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Stacey Friedman sold 4,415 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashley Bacon sold 5,086 shares of JPMorgan Chase & Co. 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 transaction, the insider now 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 ninety days, insiders sold 72,343 shares of company stock worth $14,137,789. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $209.78 on Friday. The stock has a 50-day moving average price of $201.57 and a 200 day moving average price of $190.40. The company has a quick ratio of 0.92, a current ratio of 0.91 and a debt-to-equity ratio of 1.24. The firm has a market cap of $602.42 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 2.46 and a beta of 1.12. JPMorgan Chase & Co. has a 12 month low of $135.19 and a 12 month high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $1.93. The company had revenue of $50.80 billion during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $4.37 EPS. Research analysts expect that JPMorgan Chase & Co. will post 16.67 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 2.19%. JPMorgan Chase & Co.’s payout ratio is currently 25.66%.

Wall Street Analyst Weigh In

Several brokerages recently commented on JPM. Wells Fargo & Company raised their target price on JPMorgan Chase & Co. from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Citigroup raised their target price on JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, July 15th. Piper Sandler raised their target price on JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley lifted their price objective on JPMorgan Chase & Co. from $214.00 to $221.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Robert W. Baird lifted their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report 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, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $202.89.

Read Our Latest Research Report on JPMorgan Chase & Co.

About JPMorgan Chase & Co.

(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.