Gray Wealth Management Inc. boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,353 shares of the financial services provider’s stock after buying an additional 887 shares during the period. Gray Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $958,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of JPM. Vanguard Group Inc. boosted its position in shares of JPMorgan Chase & Co. by 1.1% in the third quarter. Vanguard Group Inc. now owns 272,539,783 shares of the financial services provider’s stock valued at $28,480,408,000 after acquiring an additional 2,918,554 shares during the period. Moneta Group Investment Advisors LLC raised its stake in JPMorgan Chase & Co. by 105,652.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after acquiring an additional 97,907,897 shares in the last quarter. Morgan Stanley raised its stake in JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after acquiring an additional 8,088,433 shares in the last quarter. Geode Capital Management LLC raised its stake in JPMorgan Chase & Co. by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 51,248,625 shares of the financial services provider’s stock worth $6,859,512,000 after acquiring an additional 1,082,325 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in JPMorgan Chase & Co. by 71.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 30,484,094 shares of the financial services provider’s stock worth $4,087,917,000 after acquiring an additional 12,654,947 shares in the last quarter. 70.10% of the stock is currently owned by institutional investors and hedge funds.
JPMorgan Chase & Co. Stock Performance
NYSE:JPM opened at $139.58 on Friday. The business has a 50 day moving average of $138.71 and a 200 day moving average of $136.41. The company has a market capitalization of $407.89 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.00 and a beta of 1.10. JPMorgan Chase & Co. has a 1-year low of $101.28 and a 1-year high of $144.34. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.85 and a quick ratio of 0.85.
JPMorgan Chase & Co. Announces Dividend
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 dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.87%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.52%.
Insider Activity at JPMorgan Chase & Co.
In related news, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the sale, the chief executive officer now directly owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 16,766 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $135.00, for a total value of $2,263,410.00. Following the transaction, the insider now owns 195,356 shares of the company’s stock, valued at $26,373,060. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock valued at $19,858,275 over the last ninety days. Insiders own 0.79% of the company’s stock.
Analyst Ratings Changes
JPM has been the subject of several research analyst reports. Evercore ISI lowered their target price on JPMorgan Chase & Co. from $155.00 to $151.00 in a research note on Friday, May 12th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $131.00 to $155.00 and gave the company a “market perform” rating in a research note on Monday, April 17th. Royal Bank of Canada lowered their price objective 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. Oppenheimer upped their price objective on JPMorgan Chase & Co. from $157.00 to $192.00 and gave the company an “outperformer” rating in a research note on Monday, April 17th. Finally, Morgan Stanley upped their price objective on JPMorgan Chase & Co. from $157.00 to $160.00 in a research note on Tuesday, May 23rd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.65.
About JPMorgan Chase & Co.
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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