Brave Asset Management Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,009 shares of the financial services provider’s stock after purchasing an additional 703 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.3% of Brave Asset Management Inc.’s holdings, making the stock its 13th biggest position. Brave Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,706,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of JPMorgan Chase & Co. by 23.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock worth $3,566,044,000 after buying an additional 5,978,393 shares during the last quarter. Cottage Street Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 11,378.2% in the 4th quarter. Cottage Street Advisors LLC now owns 4,100,117 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 4,064,396 shares in the last quarter. Public Investment Fund acquired a new position in shares of JPMorgan Chase & Co. in the 2nd quarter valued at approximately $433,667,000. Barclays PLC increased its holdings in shares of JPMorgan Chase & Co. by 77.8% in the 3rd quarter. Barclays PLC now owns 8,071,119 shares of the financial services provider’s stock valued at $843,433,000 after acquiring an additional 3,531,637 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in JPMorgan Chase & Co. by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock worth $28,480,408,000 after buying an additional 2,918,554 shares during the last quarter. 67.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on JPM shares. Piper Sandler lifted their price target on JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Royal Bank of Canada lowered their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, March 24th. Morgan Stanley increased their target price on JPMorgan Chase & Co. from $167.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, February 24th. Oppenheimer reduced their price objective on JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating for the company in a research report on Thursday, March 23rd. Finally, Citigroup raised their target price on JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $149.28.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last announced its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.46. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The firm had revenue of $34.55 billion for the quarter, compared to the consensus estimate of $34.23 billion. During the same quarter in the previous year, the business earned $3.33 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. As a group, research analysts forecast that JPMorgan Chase & Co. will post 12.9 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 30th. Shareholders of record on Thursday, April 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is presently 33.11%.
Insider Activity
In related news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total value of $3,247,895.88. Following the completion of the sale, the general counsel now directly owns 48,311 shares in the company, valued at $6,778,516.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Stacey Friedman sold 23,148 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $140.31, for a total transaction of $3,247,895.88. Following the transaction, the general counsel now owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mellody L. Hobson purchased 375 shares of the company’s stock in a transaction that occurred on Thursday, January 19th. The stock was acquired at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the transaction, the director now owns 22,040 shares in the company, valued at approximately $2,965,041.20. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 37,887 shares of company stock worth $5,315,762. Insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Profile
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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