Rockport Wealth LLC Purchases New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Rockport Wealth LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, HoldingsChannel reports. The firm purchased 1,566 shares of the financial services provider’s stock, valued at approximately $313,000.

Other large investors have also added to or reduced their stakes in the company. Trust Co of the South boosted its stake in JPMorgan Chase & Co. by 1.1% in the first quarter. Trust Co of the South now owns 4,946 shares of the financial services provider’s stock valued at $991,000 after buying an additional 53 shares in the last quarter. Inspire Advisors LLC raised its position in JPMorgan Chase & Co. by 2.6% in the first quarter. Inspire Advisors LLC now owns 2,103 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 54 shares during the last quarter. PFW Advisors LLC raised its position in JPMorgan Chase & Co. by 1.1% in the first quarter. PFW Advisors LLC now owns 5,232 shares of the financial services provider’s stock valued at $1,048,000 after purchasing an additional 55 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. raised its position in JPMorgan Chase & Co. by 2.0% in the first quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,837 shares of the financial services provider’s stock valued at $568,000 after purchasing an additional 55 shares during the last quarter. Finally, KFG Wealth Management LLC raised its position in JPMorgan Chase & Co. by 3.6% in the first quarter. KFG Wealth Management LLC now owns 1,594 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In other news, insider Elena A. Korablina sold 21,829 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the transaction, the insider now directly owns 6,484 shares in the company, valued at approximately $1,237,860.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the transaction, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $190.91, for a total value of $4,167,374.39. Following the transaction, the insider now owns 6,484 shares in the company, valued at $1,237,860.44. The disclosure for this sale can be found here. Insiders have sold 72,343 shares of company stock worth $14,137,789 in the last ninety days. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $208.59 on Thursday. The stock’s 50-day simple moving average is $202.11 and its 200 day simple moving average is $191.20. The stock has a market capitalization of $599.00 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 2.47 and a beta of 1.12. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.92 and a current ratio of 0.91. JPMorgan Chase & Co. has a 52-week low of $135.19 and a 52-week high of $217.56.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $6.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. The business had revenue of $50.80 billion for the quarter, compared to analysts’ expectations 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 firm posted $4.37 EPS. Research analysts forecast that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be paid 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 2.21%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.66%.

Wall Street Analyst Weigh In

Several research firms have commented on JPM. StockNews.com upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Barclays increased their target price on JPMorgan Chase & Co. from $212.00 to $217.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Oppenheimer raised their price objective on JPMorgan Chase & Co. from $215.00 to $221.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $195.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $202.89.

JPMorgan Chase & Co. 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.