Beacon Harbor Wealth Advisors Inc. grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM – Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,774 shares of the financial services provider’s stock after buying an additional 880 shares during the quarter. Beacon Harbor Wealth Advisors Inc.’s holdings in JPMorgan Chase & Co. were worth $5,405,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley grew its stake in JPMorgan Chase & Co. by 0.3% in the 3rd quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after purchasing an additional 201,441 shares during the period. FMR LLC increased its holdings in JPMorgan Chase & Co. by 1.2% during the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock worth $7,166,546,000 after buying an additional 606,382 shares during the last quarter. Wellington Management Group LLP raised its position in JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after acquiring an additional 4,603,090 shares during the period. Northern Trust Corp boosted its stake in JPMorgan Chase & Co. by 2.7% in the third quarter. Northern Trust Corp now owns 33,089,310 shares of the financial services provider’s stock valued at $4,798,612,000 after acquiring an additional 871,091 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock worth $3,442,313,000 after purchasing an additional 457,184 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.
JPMorgan Chase & Co. Trading Up 2.0 %
JPMorgan Chase & Co. stock opened at $195.63 on Thursday. The business has a 50-day simple moving average of $191.74 and a two-hundred day simple moving average of $173.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a market cap of $561.78 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.38 and a beta of 1.13. JPMorgan Chase & Co. has a 52-week low of $133.13 and a 52-week high of $200.94.
JPMorgan Chase & Co. Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were paid a dividend of $1.15 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.35%. The ex-dividend date was Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $179.00, for a total value of $602,872.00. Following the completion of the sale, the insider now owns 202,093 shares of the company’s stock, valued at $36,174,647. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Ashley Bacon sold 3,368 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $179.00, for a total value of $602,872.00. Following the transaction, the insider now owns 202,093 shares of the company’s stock, valued at $36,174,647. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mary E. Erdoes sold 15,895 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.66, for a total transaction of $3,078,225.70. Following the transaction, the chief executive officer now owns 585,898 shares in the company, valued at $113,465,006.68. The disclosure for this sale can be found here. Insiders sold a total of 1,063,506 shares of company stock worth $195,024,605 over the last three months. 0.79% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on JPM shares. Jefferies Financial Group upped their price objective on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Oppenheimer reduced their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Evercore ISI increased their target price on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Piper Sandler decreased their price objective on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $192.05.
View Our Latest Analysis on JPM
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, 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.
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