Cetera Investment Advisers lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 9.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,813 shares of the financial services provider’s stock after acquiring an additional 4,510 shares during the quarter. Cetera Investment Advisers’ holdings in JPMorgan Chase & Co. were worth $4,755,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in the stock. NWK Group Inc. purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $39,000. Lloyd Advisory Services LLC. purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $45,000. Sailer Financial LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $50,000. Permanens Capital L.P. bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $50,000. Finally, Lion Street Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 1st quarter valued at approximately $37,000. 73.01% of the stock is owned by institutional investors.
JPM has been the subject of several recent research reports. Societe Generale raised JPMorgan Chase & Co. from a “sell” rating to a “buy” rating in a research report on Tuesday, April 14th. ValuEngine raised shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Thursday, April 9th. Piper Sandler cut their price objective on shares of JPMorgan Chase & Co. from $149.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 3rd. DA Davidson lifted their target price on shares of JPMorgan Chase & Co. from $91.00 to $97.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Finally, Morgan Stanley dropped their price target on JPMorgan Chase & Co. from $109.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $109.75.
JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $2.70 by ($1.92). JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. The business had revenue of $28.25 billion during the quarter, compared to the consensus estimate of $29.45 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 5.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.02%. JPMorgan Chase & Co.’s dividend payout ratio is presently 34.35%.
In other news, insider Ashley Bacon sold 13,027 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $91.12, for a total transaction of $1,187,020.24. Following the transaction, the insider now directly owns 137,243 shares of the company’s stock, valued at approximately $12,505,582.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen B. Burke purchased 75,000 shares of the company’s stock in a transaction dated Thursday, April 16th. The stock was purchased at an average price of $87.99 per share, for a total transaction of $6,599,250.00. Following the completion of the purchase, the director now owns 150,043 shares in the company, valued at $13,202,283.57. The disclosure for this purchase can be found here. Insiders own 0.78% of the company’s stock.
About JPMorgan Chase & Co.
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 and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.
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