Pinnacle Wealth Management Advisory Group LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,104 shares of the financial services provider’s stock after buying an additional 3,555 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.8% of Pinnacle Wealth Management Advisory Group LLC’s holdings, making the stock its 28th biggest holding. Pinnacle Wealth Management Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $5,646,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in JPM. Cantor Fitzgerald Investment Advisor L.P raised its holdings in shares of JPMorgan Chase & Co. by 81.1% during the first 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 acquiring an additional 99,636 shares in the last quarter. BCK Partners Inc. bought a new position in JPMorgan Chase & Co. in the 1st quarter worth $2,455,000. LSV Asset Management boosted its stake in shares of 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 in the last quarter. Wsfs Capital Management LLC increased its position in shares of JPMorgan Chase & Co. by 70.8% during the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock valued at $575,000 after buying an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC raised its stake in JPMorgan Chase & Co. by 1,451.4% in the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after buying an additional 3,527 shares in the last quarter. 67.89% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have weighed in on the company. StockNews.com initiated coverage on JPMorgan Chase & Co. in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley increased their price objective on JPMorgan Chase & Co. from $153.00 to $157.00 and gave the stock an “overweight” rating in a report on Monday, April 17th. BMO Capital Markets boosted their target price on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and reduced their target price for the stock from $155.00 to $145.00 in a research report on Friday, January 6th. Finally, Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.00.
JPMorgan Chase & Co. Trading Up 2.0 %
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last issued its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The firm had revenue of $38.35 billion during the quarter, compared to the consensus estimate of $35.77 billion. During the same quarter in the previous year, the firm posted $2.63 EPS. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Sell-side analysts expect that JPMorgan Chase & Co. will post 14.11 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Sunday, April 30th. Investors of record on Thursday, April 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) 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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