Keudell Morrison Wealth Management lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,003 shares of the financial services provider’s stock after buying an additional 570 shares during the period. JPMorgan Chase & Co. comprises about 0.6% of Keudell Morrison Wealth Management’s holdings, making the stock its 27th largest position. Keudell Morrison Wealth Management’s holdings in JPMorgan Chase & Co. were worth $1,878,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Retirement Financial Solutions LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth $26,000. HBC Financial Services PLLC boosted its position in JPMorgan Chase & Co. by 61.2% in the second quarter. HBC Financial Services PLLC now owns 237 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Creative Capital Management Investments LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter worth $30,000. Horizons Wealth Management purchased a new position in JPMorgan Chase & Co. in the second quarter worth $39,000. Finally, New Millennium Group LLC purchased a new position in JPMorgan Chase & Co. in the second quarter worth $39,000. Hedge funds and other institutional investors own 67.89% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on JPM shares. Oppenheimer cut their price objective on JPMorgan Chase & Co. from $186.00 to $157.00 and set an “outperform” rating on the stock in a research report on Thursday, March 23rd. Citigroup boosted their price objective on JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Wells Fargo & Company raised JPMorgan Chase & Co. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $148.00 to $155.00 in a research report on Monday, March 13th. Barclays upped their price target on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Finally, Piper Sandler upped their price target on JPMorgan Chase & Co. from $150.00 to $157.00 in a research report on Tuesday, January 17th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $149.28.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $3.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. During the same period in the previous year, the company posted $3.33 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts predict that JPMorgan Chase & Co. will post 12.9 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
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 $1.00 dividend. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.07%. JPMorgan Chase & Co.’s dividend payout ratio is currently 33.11%.
Insiders Place Their Bets
In other JPMorgan Chase & Co. news, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction on 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 purchase, the director now directly owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 4,399 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.32, for a total value of $617,267.68. Following the transaction, the insider now directly owns 36,369 shares in the company, valued at approximately $5,103,298.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mellody L. Hobson bought 375 shares of the firm’s stock in a transaction on Thursday, January 19th. The stock was acquired at an average price of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the purchase, the director now directly owns 22,040 shares in the company, valued at $2,965,041.20. The disclosure for this purchase can be found here. Insiders have sold 37,887 shares of company stock worth $5,315,762 in the last ninety days. 0.79% of the stock is currently owned by insiders.
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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