Blume Capital Management Inc. increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 38.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,427 shares of the financial services provider’s stock after purchasing an additional 9,650 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.6% of Blume Capital Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Blume Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $4,617,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Retirement Financial Solutions LLC bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $26,000. Creative Capital Management Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $30,000. Capital Directions Investment Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $44,000. Bellwether Advisors LLC boosted its stake in JPMorgan Chase & Co. by 119.1% during the 3rd 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 during the period. Finally, Delos Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. by 24.4% during the 3rd 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 during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on JPM shares. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research note on Tuesday, May 2nd. Royal Bank of Canada reduced their price target on shares of JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, March 24th. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Evercore ISI reduced their price target on shares of JPMorgan Chase & Co. from $157.00 to $146.00 and set an “outperform” rating for the company in a research report on Wednesday, April 5th. Finally, Citigroup increased their target price on shares of JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average 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 quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $2.63 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 14.33 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th were given 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 of this dividend was Wednesday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.
JPMorgan Chase & Co. Profile
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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