Connective Portfolio Management LLC Takes $2.23 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Connective Portfolio Management LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,080 shares of the financial services provider’s stock, valued at approximately $2,225,000. JPMorgan Chase & Co. accounts for about 4.5% of Connective Portfolio Management LLC’s holdings, making the stock its 7th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in JPM. Valicenti Advisory Services Inc. grew its stake in JPMorgan Chase & Co. by 2.9% during the third quarter. Valicenti Advisory Services Inc. now owns 79,891 shares of the financial services provider’s stock worth $11,586,000 after purchasing an additional 2,220 shares during the period. Hilltop Holdings Inc. grew its stake in JPMorgan Chase & Co. by 4.4% during the second quarter. Hilltop Holdings Inc. now owns 34,079 shares of the financial services provider’s stock worth $4,956,000 after purchasing an additional 1,439 shares during the period. TKG Advisors LLC grew its stake in JPMorgan Chase & Co. by 97.6% in the third quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,915,000 after acquiring an additional 6,521 shares during the period. Alley Investment Management Company LLC grew its stake in JPMorgan Chase & Co. by 0.4% in the third quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock valued at $18,405,000 after acquiring an additional 530 shares during the period. Finally, Allen Investment Management LLC grew its stake in JPMorgan Chase & Co. by 15.8% in the third quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock valued at $25,341,000 after acquiring an additional 23,894 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price objective on JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a research note on Tuesday, January 16th. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Barclays raised their price objective on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the company from $140.00 to $190.00 in a report on Tuesday, January 9th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $185.00 target price on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Eight analysts have rated the stock with a hold rating and twelve have given 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 target price of $181.63.

Insider Activity at JPMorgan Chase & Co.

In related news, Vice Chairman Peter Scher sold 1,812 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $166.65, for a total value of $301,969.80. Following the sale, the insider now directly owns 46,766 shares of the company’s stock, valued at $7,793,553.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $166.73, for a total value of $561,546.64. Following the sale, the insider now directly owns 205,461 shares of the company’s stock, valued at $34,256,512.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Peter Scher sold 1,812 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total transaction of $301,969.80. Following the transaction, the insider now directly owns 46,766 shares in the company, valued at $7,793,553.90. The disclosure for this sale can be found here. Insiders have sold 845,383 shares of company stock valued at $154,341,636 over the last three months. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPM stock opened at $195.83 on Wednesday. The firm has a 50 day moving average of $181.02 and a 200-day moving average of $163.00. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.30. JPMorgan Chase & Co. has a 12 month low of $126.22 and a 12 month high of $200.48. The firm has a market capitalization of $564.06 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 2.48 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). The firm had revenue of $38.57 billion during the quarter, compared to the consensus estimate of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. JPMorgan Chase & Co.’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.57 earnings per share. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 15.84 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a $1.15 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.89%.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.