Wells Trecaso Financial Group LLC increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,054 shares of the financial services provider’s stock after acquiring an additional 827 shares during the period. JPMorgan Chase & Co. makes up about 3.9% of Wells Trecaso Financial Group LLC’s portfolio, making the stock its 5th biggest holding. Wells Trecaso Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $8,347,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $26,000. Adirondack Retirement Specialists Inc. raised its stake in shares of JPMorgan Chase & Co. by 510.8% during the 1st quarter. Adirondack Retirement Specialists Inc. now owns 226 shares of the financial services provider’s stock valued at $29,000 after buying an additional 189 shares during the last quarter. Creative Capital Management Investments LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $30,000. Boulder Wealth Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $43,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Evercore ISI dropped their target price on JPMorgan Chase & Co. from $155.00 to $151.00 in a research report on Friday, May 12th. Royal Bank of Canada dropped their target price on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, March 24th. Barclays dropped their target price on JPMorgan Chase & Co. from $189.00 to $179.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 12th. Finally, BMO Capital Markets raised their target price on JPMorgan Chase & Co. from $169.00 to $170.00 in a research report on Tuesday, May 2nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $157.35.
JPMorgan Chase & Co. Trading Down 1.0 %
JPMorgan Chase & Co. (NYSE:JPM – Free Report) last released its earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $35.77 billion. During the same period last year, the company posted $2.63 EPS. The business’s revenue was up 24.8% on a year-over-year basis. Analysts expect that JPMorgan Chase & Co. will post 14.54 EPS for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
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 given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, July 5th. JPMorgan Chase & Co.’s payout ratio is presently 29.52%.
Insider Activity
In other news, Vice Chairman Peter Scher sold 1,240 shares of JPMorgan Chase & Co. 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 sale, 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 SEC, which can be accessed through this link. In other JPMorgan Chase & Co. 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 sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Peter Scher sold 1,240 shares of the business’s stock in a transaction on Monday, May 15th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,861 shares of company stock valued at $19,858,275. 0.79% of the stock is currently owned by company insiders.
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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