Glassman Wealth Services lifted its stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,864 shares of the financial services provider’s stock after buying an additional 739 shares during the period. Glassman Wealth Services’ holdings in JPMorgan Chase & Co. were worth $920,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Retirement Financial Solutions LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth $26,000. Creative Capital Management Investments LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth $30,000. Capital Directions Investment Advisors LLC bought a new position in JPMorgan Chase & Co. during the fourth quarter worth about $44,000. Bellwether Advisors LLC lifted its stake in JPMorgan Chase & Co. by 119.1% during the third quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 268 shares during the period. Finally, Delos Wealth Advisors LLC lifted its stake in JPMorgan Chase & Co. by 24.4% during the third quarter. Delos Wealth Advisors LLC now owns 505 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 99 shares during the period. Institutional investors own 67.89% of the company’s stock.
Analyst Upgrades and Downgrades
JPM has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a report on Monday. Royal Bank of Canada reduced their target price 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. BMO Capital Markets boosted their target price on JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their price target for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average target price of $155.00.
JPMorgan Chase & Co. Trading Down 2.1 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last released its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. JPMorgan Chase & Co.’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.63 earnings per share. Research analysts forecast that JPMorgan Chase & Co. will post 14 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Thursday, April 6th were issued a dividend of $1.00 per share. The ex-dividend date was Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.94%. JPMorgan Chase & Co.’s payout ratio is 29.52%.
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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