Forefront Wealth Management Inc. Acquires New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Forefront Wealth Management Inc. bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 9,662 shares of the financial services provider’s stock, valued at approximately $2,316,000. JPMorgan Chase & Co. accounts for 2.1% of Forefront Wealth Management Inc.’s holdings, making the stock its 18th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the fourth quarter valued at approximately $43,000. Legacy Investment Solutions LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at $45,000. Collier Financial acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $45,000. Lowe Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after buying an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at $50,000. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the transaction, the chief operating officer now owns 54,469 shares of the company’s stock, valued at $14,698,459.65. This represents a 7.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 in the last ninety days. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $242.97 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The firm has a 50-day moving average of $257.55 and a 200-day moving average of $240.30. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25. The company has a market cap of $679.36 billion, a P/E ratio of 12.31, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the business posted $3.04 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is 28.37%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on JPM shares. Piper Sandler increased their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. UBS Group increased their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Bank of America lifted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.