JPMorgan Chase & Co. (NYSE:JPM) Shares Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 472.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,818 shares of the financial services provider’s stock after purchasing an additional 129,417 shares during the period. JPMorgan Chase & Co. accounts for 1.3% of Modern Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. Modern Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $37,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Midwest Capital Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth approximately $43,000. Legacy Investment Solutions LLC acquired a new position in JPMorgan Chase & Co. in the 3rd quarter valued at $45,000. Collier Financial purchased a new position in JPMorgan Chase & Co. during the 4th quarter worth $45,000. Lowe Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 34.0% in the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 51 shares during the period. Finally, Kieckhefer Group LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $50,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $215.00 to $220.00 in a research report on Friday, March 7th. Bank of America lifted their price target on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Truist Financial boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Finally, Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $252.89.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction dated Thursday, February 20th. The shares were 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 directly owns 54,469 shares in the company, valued at $14,698,459.65. This represents a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 over the last quarter. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Trading Down 2.1 %

JPMorgan Chase & Co. stock opened at $242.97 on Friday. The stock has a 50-day moving average price of $257.55 and a 200 day moving average price of $240.54. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week high of $280.25. The stock has a market cap of $679.36 billion, a PE ratio of 12.31, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

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

JPMorgan Chase & Co. Increases Dividend

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

About JPMorgan Chase & Co.

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.