CPA Asset Management LLC bought a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,175 shares of the financial services provider’s stock, valued at approximately $1,096,000. JPMorgan Chase & Co. accounts for about 0.8% of CPA Asset Management LLC’s investment portfolio, making the stock its 24th largest holding.
A number of other institutional investors and hedge funds also recently modified their holdings of JPM. Retirement Financial Solutions LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $26,000. Creative Capital Management Investments LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $30,000. Capital Directions Investment Advisors LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Bellwether Advisors LLC grew its stake in JPMorgan Chase & Co. by 119.1% in the third quarter. Bellwether Advisors LLC now owns 493 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 268 shares in the last quarter. Finally, Delos Wealth Advisors LLC grew its stake in JPMorgan Chase & Co. by 24.4% in the third quarter. Delos Wealth Advisors LLC now owns 505 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 99 shares in the last quarter. 67.89% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently issued reports on JPM shares. BMO Capital Markets upped their price target on JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Evercore ISI decreased their target price on JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, April 5th. Wells Fargo & Company increased their target price on 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 upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research note on Monday, May 1st. Finally, Royal Bank of Canada decreased their target price on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and an average price target of $155.00.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Rating) last posted its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.69. The firm 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%. The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.63 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 14.33 earnings per share for the current year.
JPMorgan Chase & Co. Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. 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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