Bay Harbor Wealth Management LLC Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Bay Harbor Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 711.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 430 shares of the financial services provider’s stock after purchasing an additional 377 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $73,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Macroview Investment Management LLC raised its holdings in JPMorgan Chase & Co. by 7,833.3% during the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 235 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in JPMorgan Chase & Co. during the third quarter worth $40,000. FSC Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 290.9% during the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 288 shares during the last quarter. Legacy Financial Group LLC acquired a new position in JPMorgan Chase & Co. during the third quarter worth $58,000. Finally, Robbins Farley raised its holdings in JPMorgan Chase & Co. by 29.5% during the third quarter. Robbins Farley now owns 421 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 96 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $179.96 on Thursday. The firm has a market capitalization of $516.86 billion, a PE ratio of 10.87, a P/E/G ratio of 2.30 and a beta of 1.15. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The business has a 50-day moving average of $188.48 and a two-hundred day moving average of $168.50. JPMorgan Chase & Co. has a 12 month low of $131.81 and a 12 month high of $200.94.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.56%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 3,368 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $179.00, for a total transaction of $602,872.00. Following the completion of the sale, the insider now directly owns 202,093 shares in the company, valued at $36,174,647. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now owns 32,819 shares in the company, valued at $5,873,288.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ashley Bacon sold 3,368 shares of the 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 approximately $36,174,647. The disclosure for this sale can be found here. Insiders sold 1,020,696 shares of company stock worth $186,794,151 over the last three months. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JPM. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. 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. Finally, Evercore ISI upped their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Eight equities 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.05.

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.