Covenant Asset Management LLC increased its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 75.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,123 shares of the financial services provider’s stock after buying an additional 12,917 shares during the quarter. JPMorgan Chase & Co. comprises about 1.0% of Covenant Asset Management LLC’s portfolio, making the stock its 18th biggest position. Covenant Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,040,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P increased its stake in JPMorgan Chase & Co. by 81.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock valued at $30,321,000 after purchasing an additional 99,636 shares in the last quarter. BCK Partners Inc. acquired a new position in JPMorgan Chase & Co. during the 1st quarter valued at about $2,455,000. LSV Asset Management boosted its stake in JPMorgan Chase & Co. by 35.6% during the 1st quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock valued at $5,085,000 after purchasing an additional 9,800 shares during the last quarter. Wsfs Capital Management LLC boosted its stake in JPMorgan Chase & Co. by 70.8% during the 1st quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after purchasing an additional 1,749 shares during the last quarter. Finally, Lumature Wealth Partners LLC boosted its stake in JPMorgan Chase & Co. by 1,451.4% during the 1st quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 3,527 shares during the last quarter. 67.89% of the stock is owned by institutional investors and hedge funds.
JPMorgan Chase & Co. Price Performance
NYSE JPM opened at $127.47 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. The company has a market cap of $375.19 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $144.34. The firm’s 50-day simple moving average is $135.86 and its two-hundred day simple moving average is $130.46.
JPMorgan Chase & Co. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 33.11%.
Insider Activity
In other news, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. 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 transaction, the general counsel now directly owns 48,311 shares in the company, valued at $6,778,516.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. 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 transaction, the general counsel now directly owns 48,311 shares in the company, valued at $6,778,516.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mellody L. Hobson acquired 375 shares of the business’s stock in a transaction dated Thursday, January 19th. The stock was purchased at an average price of $134.53 per share, with a total value of $50,448.75. Following the completion of the transaction, the director now directly owns 22,040 shares of the company’s stock, valued at approximately $2,965,041.20. The disclosure for this purchase can be found here. Over the last three months, insiders sold 37,887 shares of company stock worth $5,315,762. 0.79% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
JPM has been the subject of a number of analyst reports. Morgan Stanley cut their price target on JPMorgan Chase & Co. from $173.00 to $153.00 and set an “overweight” rating for the company in a research note on Wednesday. Credit Suisse Group set a $155.00 price objective on JPMorgan Chase & Co. in a research note on Monday, February 27th. Royal Bank of Canada dropped their price objective on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, March 24th. Citigroup increased their price objective on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research note on Tuesday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $155.00 to $145.00 in a research note on Friday, January 6th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.33.
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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