Frontier Wealth Management LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 93.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,149 shares of the financial services provider’s stock after purchasing an additional 37,303 shares during the quarter. JPMorgan Chase & Co. comprises about 1.1% of Frontier Wealth Management LLC’s investment portfolio, making the stock its 18th largest holding. Frontier Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $6,946,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. NWK Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $39,000. Lloyd Advisory Services LLC. bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $45,000. Sailer Financial LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter worth $50,000. Permanens Capital L.P. acquired a new position in JPMorgan Chase & Co. in the fourth quarter valued at about $50,000. Finally, Lion Street Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter worth about $37,000. Hedge funds and other institutional investors own 73.01% of the company’s stock.
JPM stock opened at $89.47 on Friday. The company has a market cap of $274.75 billion, a price-to-earnings ratio of 10.11, a P/E/G ratio of 3.51 and a beta of 1.20. JPMorgan Chase & Co. has a twelve month low of $76.91 and a twelve month high of $141.10. The business has a 50 day moving average price of $91.61 and a two-hundred day moving average price of $118.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.29.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, July 2nd. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.
In other JPMorgan Chase & Co. news, Director Stephen B. Burke bought 75,000 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, April 16th. The stock was bought at an average cost of $87.99 per share, for a total transaction of $6,599,250.00. Following the purchase, the director now owns 150,043 shares of the company’s stock, valued at approximately $13,202,283.57. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ashley Bacon sold 13,027 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $91.12, for a total value of $1,187,020.24. Following the transaction, the insider now owns 137,243 shares of the company’s stock, valued at $12,505,582.16. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
Several equities analysts recently issued reports on the company. Royal Bank of Canada set a $99.00 price objective on JPMorgan Chase & Co. and gave the company a “buy” rating in a research report on Tuesday, April 14th. BMO Capital Markets reduced their price target on shares of JPMorgan Chase & Co. from $117.00 to $101.00 and set a “market perform” rating for the company in a report on Wednesday, April 15th. Deutsche Bank reissued a “neutral” rating and set a $105.00 price objective (down previously from $130.00) on shares of JPMorgan Chase & Co. in a research report on Thursday, April 2nd. Morgan Stanley cut their price objective on shares of 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. Finally, UBS Group increased their target price on JPMorgan Chase & Co. from $82.00 to $96.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $109.75.
JPMorgan Chase & Co. Company 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 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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