Trevian Wealth Management LLC boosted its position in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 484.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,118 shares of the financial services provider’s stock after acquiring an additional 11,703 shares during the period. JPMorgan Chase & Co. accounts for about 2.1% of Trevian Wealth Management LLC’s holdings, making the stock its 7th biggest position. Trevian Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,893,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Cottage Street Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 11,378.2% during the fourth quarter. Cottage Street Advisors LLC now owns 4,100,117 shares of the financial services provider’s stock valued at $674,000 after buying an additional 4,064,396 shares during the last quarter. Barclays PLC lifted its position in 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 in the last quarter. Vanguard Group Inc. boosted 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 valued at $28,480,408,000 after purchasing an additional 2,918,554 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in JPMorgan Chase & Co. by 7,427.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,664,092 shares of the financial services provider’s stock worth $363,169,000 after purchasing an additional 2,628,701 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of JPMorgan Chase & Co. by 265.8% in the third quarter. Federated Hermes Inc. now owns 3,391,632 shares of the financial services provider’s stock worth $354,426,000 after purchasing an additional 2,464,462 shares during the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.
Insiders Place Their Bets
In related news, Director Mellody L. Hobson purchased 375 shares of the firm’s stock in a transaction dated Thursday, January 19th. The shares were purchased at an average cost of $134.53 per share, for a total transaction of $50,448.75. Following the completion of the transaction, the director now directly owns 22,040 shares in the company, valued at approximately $2,965,041.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Stock Up 0.8 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The firm had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 24.34% and a return on equity of 14.68%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business earned $2.63 earnings per share. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 12.73 earnings per share 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 issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.86%. JPMorgan Chase & Co.’s payout ratio is 29.52%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on JPM. Citigroup upped their price target on JPMorgan Chase & Co. from $150.00 to $165.00 in a report on Tuesday, January 17th. The Goldman Sachs Group increased their target price on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a report on Friday. UBS Group set a $156.00 price target on shares of JPMorgan Chase & Co. in a research report on Friday, January 13th. Barclays reduced their price objective on shares of JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. Finally, Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and an average price target of $154.67.
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
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