Marcum Wealth LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,631 shares of the financial services provider’s stock after purchasing an additional 1,642 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 0.6% of Marcum Wealth LLC’s investment portfolio, making the stock its 21st biggest holding. Marcum Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $4,513,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 2,918,554 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of JPMorgan Chase & Co. by 105,652.2% during the 4th 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 boosted its stake in shares of JPMorgan Chase & Co. by 15.9% during the 4th 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 boosted its stake in shares of JPMorgan Chase & Co. by 2.2% during the 4th 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 boosted its stake in shares of JPMorgan Chase & Co. by 71.0% during the 4th 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 owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Credit Suisse Group increased their target price on shares of JPMorgan Chase & Co. from $155.00 to $160.00 in a research note on Tuesday, April 18th. 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. Keefe, Bruyette & Woods upped their price target 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. Finally, Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $157.35.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Free Report) last posted its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.69. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business 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 company posted $2.63 EPS. The business’s revenue for the quarter was up 24.8% on a year-over-year basis. On average, analysts expect that JPMorgan Chase & Co. will post 14.53 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be paid a $1.00 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 annualized dividend and a dividend yield of 2.73%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 29.52%.
Insider Activity
In related news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.02, for a total transaction of $167,424.80. Following the completion of the transaction, the insider now owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $135.02, for a total value of $167,424.80. Following the completion of the transaction, the insider now owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Piepszak sold 1,871 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $140.70, for a total transaction of $263,249.70. Following the completion of the transaction, the chief executive officer now owns 22,926 shares of the company’s stock, valued at approximately $3,225,688.20. The disclosure for this sale can be found here. Insiders sold a total of 145,861 shares of company stock valued at $19,858,275 in the last 90 days. Company insiders own 0.79% of the company’s stock.
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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