Summit Financial Wealth Advisors LLC Purchases 294 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Summit Financial Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPMFree Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,473 shares of the financial services provider’s stock after acquiring an additional 294 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $1,611,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Valicenti Advisory Services Inc. lifted its position in shares of JPMorgan Chase & Co. by 2.9% in the third quarter. Valicenti Advisory Services Inc. now owns 79,891 shares of the financial services provider’s stock worth $11,586,000 after buying an additional 2,220 shares in the last quarter. Hilltop Holdings Inc. lifted its position in shares of JPMorgan Chase & Co. by 4.4% in the second quarter. Hilltop Holdings Inc. now owns 34,079 shares of the financial services provider’s stock worth $4,956,000 after buying an additional 1,439 shares in the last quarter. TKG Advisors LLC lifted its position in shares of 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 worth $1,915,000 after buying an additional 6,521 shares in the last quarter. Alley Investment Management Company LLC raised its position in JPMorgan Chase & Co. by 0.4% during 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 purchasing an additional 530 shares during the period. Finally, Allen Investment Management LLC raised its position in JPMorgan Chase & Co. by 15.8% during 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 purchasing an additional 23,894 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.0 %

Shares of NYSE JPM opened at $198.86 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $572.79 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The stock’s fifty day simple moving average is $184.05 and its two-hundred day simple moving average is $164.86. JPMorgan Chase & Co. has a 12-month low of $126.22 and a 12-month high of $200.94.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.69). The company had revenue of $38.57 billion for 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%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the business posted $3.57 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 15.75 EPS 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. Shareholders of record on Friday, April 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 25.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on JPM shares. Deutsche Bank Aktiengesellschaft upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and upped their price objective for the company from $140.00 to $190.00 in a research report on Tuesday, January 9th. Piper Sandler upped their price objective on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Oppenheimer decreased their price objective on JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 19th. Barclays upped their price objective on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $192.00 to $194.00 and gave the stock a “market perform” rating in a report on Tuesday, January 16th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $181.63.

Read Our Latest Research Report on JPMorgan Chase & Co.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,812 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total value of $301,969.80. Following the completion of the sale, the insider now owns 46,766 shares of the company’s stock, valued at approximately $7,793,553.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total value of $561,546.64. Following the completion of the sale, the insider now owns 205,461 shares of the company’s stock, valued at approximately $34,256,512.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Peter Scher sold 1,812 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total value of $301,969.80. Following the completion of the sale, the insider now directly owns 46,766 shares of the company’s stock, valued at approximately $7,793,553.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 849,303 shares of company stock valued at $155,107,447. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. 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; 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.

See Also

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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