JPL Wealth Management LLC Purchases New Shares in JPMorgan Chase & Co. (NYSE:JPM)

JPL Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,703 shares of the financial services provider’s stock, valued at approximately $4,004,000. JPMorgan Chase & Co. makes up approximately 1.1% of JPL Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position.

Several other hedge funds also recently made changes to their positions in JPM. Principal Financial Group Inc. raised its stake in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares during the last quarter. United Bank raised its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after purchasing an additional 614 shares during the last quarter. Atlanta Consulting Group Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 1.3% in the third quarter. Atlanta Consulting Group Advisors LLC now owns 51,779 shares of the financial services provider’s stock worth $10,918,000 after purchasing an additional 649 shares during the last quarter. Adero Partners LLC raised its stake in shares of JPMorgan Chase & Co. by 2.2% in the third quarter. Adero Partners LLC now owns 18,806 shares of the financial services provider’s stock worth $3,965,000 after purchasing an additional 402 shares during the last quarter. Finally, Accent Capital Management LLC raised its stake in shares of JPMorgan Chase & Co. by 84.4% in the third quarter. Accent Capital Management LLC now owns 14,861 shares of the financial services provider’s stock worth $3,134,000 after purchasing an additional 6,802 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,326 shares of company stock worth $12,448,445. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial upped their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Bank of America upped their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $241.49 on Friday. The company has a 50 day moving average price of $257.86 and a 200-day moving average price of $239.22. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The stock has a market capitalization of $675.24 billion, a PE ratio of 12.23, a PEG ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.04 EPS. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.