Institute for Wealth Management LLC. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,747 shares of the financial services provider’s stock after acquiring an additional 311 shares during the period. Institute for Wealth Management LLC.’s holdings in JPMorgan Chase & Co. were worth $2,182,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Retirement Financial Solutions LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $26,000. Adirondack Retirement Specialists Inc. boosted 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 worth $29,000 after purchasing an additional 189 shares during the last quarter. Creative Capital Management Investments LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $30,000. Boulder Wealth Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $43,000. Finally, Capital Directions Investment Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $44,000. 70.10% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Daniel E. Pinto sold 113,640 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, May 11th. The shares were 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 owns 566,665 shares in the company, valued at $77,026,773.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Daniel E. Pinto sold 113,640 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total transaction of $15,447,085.20. Following the completion of the sale, the chief executive officer now owns 566,665 shares of the company’s stock, valued at $77,026,773.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Peter Scher sold 1,240 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly 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. Insiders have sold 145,861 shares of company stock worth $19,858,275 over the last 90 days. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Trading Up 0.8 %
JPMorgan Chase & Co. (NYSE:JPM – Free Report) last posted its quarterly earnings data on Friday, April 14th. The financial services provider reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to analyst estimates of $35.77 billion. JPMorgan Chase & Co. had a net margin of 23.73% and a return on equity of 16.02%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.63 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 14.54 EPS for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Thursday, July 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Wednesday, July 5th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.77%. JPMorgan Chase & Co.’s dividend payout ratio is currently 29.52%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on JPM. Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $157.00 to $160.00 in a research note on Tuesday, May 23rd. Bank of America increased their price objective on shares of JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, April 17th. BMO Capital Markets increased their price objective on shares of JPMorgan Chase & Co. from $169.00 to $170.00 in a report on Tuesday, May 2nd. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Citigroup cut their price objective on shares of JPMorgan Chase & Co. from $165.00 to $160.00 in a report on Monday, June 26th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $158.06.
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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