RiverFront Investment Group LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,845 shares of the financial services provider’s stock, valued at approximately $247,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Retirement Financial Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $26,000. Creative Capital Management Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $30,000. Boulder Wealth Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Capital Directions Investment Advisors LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $44,000. Finally, Bellwether Advisors LLC lifted its position 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 worth $51,000 after buying an additional 268 shares in the last quarter. Institutional investors and hedge funds own 67.89% of the company’s stock.
Insider Activity at JPMorgan Chase & Co.
In related news, CEO Daniel E. Pinto sold 113,640 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the completion of the transaction, the chief executive officer now directly owns 566,665 shares in the company, valued at approximately $77,026,773.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 16,766 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.00, for a total transaction of $2,263,410.00. Following the completion of the transaction, the insider now owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total value of $15,447,085.20. Following the transaction, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at approximately $77,026,773.45. The disclosure for this sale can be found here. In the last three months, insiders sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is owned by company insiders.
JPMorgan Chase & Co. Stock Performance
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 the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The business had revenue of $38.35 billion during the quarter, compared to analyst estimates of $35.77 billion. During the same period in the previous year, the firm earned $2.63 EPS. JPMorgan Chase & Co.’s quarterly revenue was up 24.8% compared to the same quarter last year. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 14.36 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.79%. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.52%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on JPM. Jefferies Financial Group reduced their price target on shares of JPMorgan Chase & Co. from $152.00 to $149.00 in a research report on Monday, May 15th. BMO Capital Markets upped their price target on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Morgan Stanley upped their price target on shares of JPMorgan Chase & Co. from $157.00 to $160.00 in a research report on Tuesday, May 23rd. 92 Resources reissued a “maintains” rating on shares of JPMorgan Chase & Co. in a report on Friday, May 12th. Finally, Oppenheimer boosted their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the stock an “outperformer” rating in a report on Monday, April 17th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and an average price target of $157.65.
JPMorgan Chase & Co. Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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