Elkhorn Partners Limited Partnership Invests $601,000 in JPMorgan Chase & Co. (NYSE:JPM)

Elkhorn Partners Limited Partnership acquired a new position in JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the financial services provider’s stock, valued at approximately $601,000. JPMorgan Chase & Co. accounts for 0.5% of Elkhorn Partners Limited Partnership’s portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stone House Investment Management LLC grew its position in JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the period. Retirement Group LLC grew its position in JPMorgan Chase & Co. by 227.1% during the first quarter. Retirement Group LLC now owns 157 shares of the financial services provider’s stock valued at $31,000 after buying an additional 109 shares during the period. Richardson Capital Management LLC acquired a new stake in JPMorgan Chase & Co. during the first quarter valued at $34,000. Bare Financial Services Inc purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $35,000. Finally, Partnership Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $210.00 to $211.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Robert W. Baird upped their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 21st. Finally, Citigroup upped their target price on shares of JPMorgan Chase & Co. from $205.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.89.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the sale, the insider now owns 6,484 shares in the company, valued at $1,237,860.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Elena A. Korablina sold 21,829 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the sale, the insider now owns 6,484 shares in the company, valued at $1,237,860.44. The transaction was disclosed in a legal filing 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 that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, 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. Insiders have sold a total of 72,343 shares of company stock valued at $14,137,789 over the last ninety days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded up $3.57 during trading hours on Friday, reaching $212.24. The company had a trading volume of 8,027,787 shares, compared to its average volume of 9,013,996. The firm has a 50 day simple moving average of $202.39 and a 200-day simple moving average of $191.75. The company has a current ratio of 0.91, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $609.48 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.49 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) last announced its quarterly 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 firm had revenue of $50.80 billion for 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 posted $4.37 earnings per share. Research analysts expect that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.17%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.66%.

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.