B.O.S.S. Retirement Advisors LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 41.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,048 shares of the financial services provider’s stock after buying an additional 1,190 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $528,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Lake Street Financial LLC grew its position in JPMorgan Chase & Co. by 3.0% in the first quarter. Lake Street Financial LLC now owns 33,913 shares of the financial services provider’s stock worth $4,419,000 after buying an additional 1,002 shares during the last quarter. Gradient Investments LLC grew its position in JPMorgan Chase & Co. by 3.8% during the 1st quarter. Gradient Investments LLC now owns 237,236 shares of the financial services provider’s stock worth $30,914,000 after purchasing an additional 8,752 shares in the last quarter. Johnson & White Wealth Management LLC purchased a new position in JPMorgan Chase & Co. during the 1st quarter worth approximately $1,156,000. Claro Advisors LLC grew its position in JPMorgan Chase & Co. by 1.3% during the 1st quarter. Claro Advisors LLC now owns 38,050 shares of the financial services provider’s stock worth $4,958,000 after purchasing an additional 493 shares in the last quarter. Finally, Dakota Community Bank & Trust NA grew its position in JPMorgan Chase & Co. by 20.0% during the 1st quarter. Dakota Community Bank & Trust NA now owns 3,164 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of JPMorgan Chase & Co. from $157.00 to $160.00 in a research report on Tuesday, May 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of JPMorgan Chase & Co. from $131.00 to $155.00 and gave the stock a “market perform” rating in a research report on Monday, April 17th. Wells Fargo & Company lifted their price objective on shares of JPMorgan Chase & Co. from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. The Goldman Sachs Group lifted their price objective on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Finally, 92 Resources reiterated a “maintains” rating on shares of JPMorgan Chase & Co. in a research report on Friday, May 12th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.35.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Free Report) last announced its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $38.35 billion during the quarter, compared to analysts’ expectations of $35.77 billion. During the same quarter in the prior year, the business earned $2.63 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. As a group, equities research analysts forecast that JPMorgan Chase & Co. will post 14.46 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, CEO Douglas B. Petno sold 4,932 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $134.90, for a total transaction of $665,326.80. Following the completion of the sale, the chief executive officer now directly owns 282,091 shares in the company, valued at $38,054,075.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Douglas B. Petno sold 4,932 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $134.90, for a total value of $665,326.80. Following the transaction, the chief executive officer now directly owns 282,091 shares in the company, valued at $38,054,075.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashley Bacon sold 16,766 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.00, for a total value of $2,263,410.00. Following the sale, the insider now owns 195,356 shares of the company’s stock, valued at approximately $26,373,060. The disclosure for this sale can be found here. Insiders have sold 145,861 shares of company stock worth $19,858,275 in the last quarter. 0.79% of the stock is currently owned by company insiders.
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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