First Heartland Consultants Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 28.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,293 shares of the financial services provider’s stock after purchasing an additional 1,383 shares during the quarter. First Heartland Consultants Inc.’s holdings in JPMorgan Chase & Co. were worth $844,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Merit Financial Group LLC grew its holdings in JPMorgan Chase & Co. by 12.5% in the fourth quarter. Merit Financial Group LLC now owns 53,682 shares of the financial services provider’s stock worth $7,199,000 after purchasing an additional 5,978 shares during the period. Northside Capital Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.9% in the fourth quarter. Northside Capital Management LLC now owns 6,850 shares of the financial services provider’s stock worth $919,000 after buying an additional 127 shares in the last quarter. New England Professional Planning Group Inc. bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $201,000. Walter Public Investments Inc. lifted its stake in shares of JPMorgan Chase & Co. by 11.9% in the fourth quarter. Walter Public Investments Inc. now owns 90,450 shares of the financial services provider’s stock worth $12,129,000 after buying an additional 9,648 shares in the last quarter. Finally, Uncommon Cents Investing LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.2% in the fourth quarter. Uncommon Cents Investing LLC now owns 25,025 shares of the financial services provider’s stock worth $3,356,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on JPM. Wells Fargo & Company upgraded shares of JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $148.00 to $155.00 in a research note on Monday, March 13th. UBS Group set a $156.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Deutsche Bank Aktiengesellschaft downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and lowered their price objective for the company from $155.00 to $145.00 in a research report on Friday, January 6th. Royal Bank of Canada set a $130.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Finally, StockNews.com began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.17.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. The firm had revenue of $34.55 billion during the quarter, compared to analysts’ expectations of $34.23 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.33 earnings per share. Equities analysts anticipate that JPMorgan Chase & Co. will post 12.9 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Investors of record on Thursday, April 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 annualized dividend and a yield of 3.15%. JPMorgan Chase & Co.’s payout ratio is 33.11%.
Insider Activity at JPMorgan Chase & Co.
In related news, Vice Chairman Peter Scher sold 4,399 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the transaction, the insider now directly owns 36,369 shares of the company’s stock, valued at $5,103,298.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 4,399 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.32, for a total transaction of $617,267.68. Following the completion of the transaction, the insider now owns 36,369 shares in the company, valued at $5,103,298.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mary E. Erdoes sold 10,340 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $140.29, for a total transaction of $1,450,598.60. Following the transaction, the chief executive officer now owns 544,136 shares of the company’s stock, valued at approximately $76,336,839.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,887 shares of company stock valued at $5,315,762. Corporate insiders own 0.79% of the company’s stock.
About JPMorgan Chase & Co.
JPMorgan Chase & Co is a financial holding company, which engages in providing financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
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