Kearns & Associates LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,960 shares of the financial services provider’s stock, valued at approximately $263,000.
Other large investors have also made changes to their positions in the company. Aptus Capital Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 11.3% in the third quarter. Aptus Capital Advisors LLC now owns 153,622 shares of the financial services provider’s stock valued at $16,054,000 after purchasing an additional 15,607 shares in the last quarter. Leisure Capital Management grew its position in shares of JPMorgan Chase & Co. by 2.7% in the third quarter. Leisure Capital Management now owns 22,736 shares of the financial services provider’s stock valued at $2,376,000 after purchasing an additional 600 shares in the last quarter. Ballentine Partners LLC grew its position in shares of JPMorgan Chase & Co. by 12.4% in the third quarter. Ballentine Partners LLC now owns 51,929 shares of the financial services provider’s stock valued at $5,427,000 after purchasing an additional 5,719 shares in the last quarter. Argus Investors Counsel Inc. grew its position in shares of JPMorgan Chase & Co. by 0.6% in the fourth quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock valued at $3,256,000 after purchasing an additional 149 shares in the last quarter. Finally, BerganKDV Wealth Management LLC grew its position in shares of JPMorgan Chase & Co. by 6.1% in the third quarter. BerganKDV Wealth Management LLC now owns 35,995 shares of the financial services provider’s stock valued at $3,762,000 after purchasing an additional 2,079 shares in the last quarter. 67.89% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on JPM. Deutsche Bank Aktiengesellschaft lowered JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and dropped their price target for the company from $155.00 to $145.00 in a research report on Friday, January 6th. Citigroup increased their price objective on JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. UBS Group set a $156.00 price objective on JPMorgan Chase & Co. in a research report on Friday, January 13th. StockNews.com assumed coverage on JPMorgan Chase & Co. in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Piper Sandler increased their price objective on JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.28.
JPMorgan Chase & Co. Stock Up 1.2 %
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, beating the consensus estimate of $3.11 by $0.46. The business had revenue of $34.55 billion for the quarter, compared to analysts’ expectations of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned $3.33 earnings per share. As a group, equities analysts predict that JPMorgan Chase & Co. will post 12.9 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s payout ratio is currently 33.11%.
Insider Activity
In related news, Director Mellody L. Hobson acquired 375 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, January 19th. The shares were acquired at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the purchase, the director now owns 22,040 shares in the company, valued at $2,965,041.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Mary E. Erdoes sold 10,340 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $140.29, for a total value of $1,450,598.60. Following the transaction, the chief executive officer now owns 544,136 shares of the company’s stock, valued at $76,336,839.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mellody L. Hobson bought 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 acquisition, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 37,887 shares of company stock worth $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.
Read More
- Get a free copy of the StockNews.com research report on JPMorgan Chase & Co. (JPM)
- MarketBeat Week in Review – 3/27 – 3/31
- What is a Gold IRA, and is it a Viable Investment?
- Is Braze Inc Ready To Rocket Higher?
- Mullen Automotive Makes Deliveries; Short-Squeeze Possible
- Can Frontline Maintain This Momentum?
Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPM – Get Rating).
Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.
