JPMorgan Chase & Co. (NYSE:JPM) Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. raised its holdings in JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 49.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 39,634 shares of the financial services provider’s stock after acquiring an additional 13,190 shares during the period. JPMorgan Chase & Co. accounts for about 2.1% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 19th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $5,165,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of JPM. Mercer Global Advisors Inc. ADV increased its holdings in shares of JPMorgan Chase & Co. by 11.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 336,522 shares of the financial services provider’s stock worth $45,128,000 after buying an additional 34,068 shares during the last quarter. Argus Investors Counsel Inc. increased its holdings in shares of JPMorgan Chase & Co. by 0.6% during the 4th quarter. Argus Investors Counsel Inc. now owns 24,284 shares of the financial services provider’s stock worth $3,256,000 after buying an additional 149 shares during the last quarter. Hixon Zuercher LLC increased its holdings in shares of JPMorgan Chase & Co. by 0.8% during the 4th quarter. Hixon Zuercher LLC now owns 34,276 shares of the financial services provider’s stock worth $4,596,000 after buying an additional 264 shares during the last quarter. Crew Capital Management Ltd. increased its holdings in shares of JPMorgan Chase & Co. by 7.2% during the 1st quarter. Crew Capital Management Ltd. now owns 6,286 shares of the financial services provider’s stock worth $819,000 after buying an additional 424 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its holdings in shares of JPMorgan Chase & Co. by 3.4% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 29,711 shares of the financial services provider’s stock worth $3,872,000 after buying an additional 984 shares during the last quarter. 70.10% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $158.00 to $168.00 in a report on Monday. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $170.00 price target for the company in a research report on Friday, July 7th. Societe Generale cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. The Goldman Sachs Group upped their price target on shares of JPMorgan Chase & Co. from $160.00 to $172.00 in a research report on Friday, April 14th. Finally, Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $174.00 to $180.00 in a research report on Monday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.65.

Insider Activity

In other news, CEO Daniel E. Pinto sold 113,640 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were 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 in the company, valued at approximately $77,026,773.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction dated 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 in the company, valued at $6,083,461.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction dated 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 owns 566,665 shares in the company, valued at approximately $77,026,773.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,861 shares of company stock worth $19,858,275. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $153.66 on Wednesday. The firm has a market cap of $449.04 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The firm’s 50-day simple moving average is $141.20 and its 200-day simple moving average is $138.18. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.85 and a current ratio of 0.90. JPMorgan Chase & Co. has a 1 year low of $101.28 and a 1 year high of $154.40.

JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its earnings results on Friday, July 14th. The financial services provider reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.75. The business had revenue of $42.40 billion for the quarter, compared to analyst estimates of $38.66 billion. JPMorgan Chase & Co. had a net margin of 23.45% and a return on equity of 17.29%. The company’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.76 EPS. Equities analysts forecast that JPMorgan Chase & Co. will post 14.39 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.60%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.74%.

JPMorgan Chase & Co. Company Profile

(Free Report)

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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