New Covenant Trust Company N.A. Invests $1.21 Million in JPMorgan Chase & Co. (NYSE:JPM)

New Covenant Trust Company N.A. purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, HoldingsChannel.com reports. The fund purchased 6,019 shares of the financial services provider’s stock, valued at approximately $1,206,000. JPMorgan Chase & Co. comprises about 1.2% of New Covenant Trust Company N.A.’s portfolio, making the stock its 16th largest holding.

Several other institutional investors have also recently made changes to their positions in the company. Stone House Investment Management LLC boosted its position in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 89 shares in the last quarter. Retirement Group LLC boosted its holdings 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 worth $31,000 after buying an additional 109 shares in the last quarter. Richardson Capital Management LLC acquired a new position in JPMorgan Chase & Co. in the 1st quarter worth about $34,000. Bare Financial Services Inc acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Finally, Partnership Wealth Management LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $36,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 4.9 %

Shares of JPM traded down $10.28 during trading hours on Friday, hitting $197.68. The company had a trading volume of 12,279,520 shares, compared to its average volume of 9,249,186. 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 stock has a market capitalization of $567.67 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 2.48 and a beta of 1.12. The firm has a fifty day moving average price of $203.51 and a 200-day moving average price of $192.75. 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 released its earnings results on Friday, July 12th. The financial services provider reported $6.12 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $1.93. JPMorgan Chase & Co. had a return on equity of 17.26% and a net margin of 20.32%. The business had revenue of $50.80 billion for the quarter, compared to analyst estimates of $42.23 billion. During the same quarter last year, the firm posted $4.37 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 16.78 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Friday, July 5th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 25.66%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JPM. Citigroup upped their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $230.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Wolfe Research downgraded JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a report on Monday, July 8th. Finally, Morgan Stanley lifted their price target on JPMorgan Chase & Co. from $221.00 to $226.00 and gave the stock an “overweight” rating in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.71.

Insider Buying and Selling

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

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.