Granite Bay Wealth Management LLC Has $225.36 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Granite Bay Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 24.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,324,858 shares of the financial services provider’s stock after acquiring an additional 262,515 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 2.0% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. Granite Bay Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $225,358,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of JPM. Macroview Investment Management LLC increased its stake in shares of JPMorgan Chase & Co. by 7,833.3% in the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after buying an additional 235 shares during the period. Briaud Financial Planning Inc acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $40,000. Morton Brown Family Wealth LLC increased its stake in shares of JPMorgan Chase & Co. by 2,308.3% in the fourth quarter. Morton Brown Family Wealth LLC now owns 289 shares of the financial services provider’s stock valued at $49,000 after buying an additional 277 shares during the period. FSC Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 290.9% in the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock valued at $56,000 after buying an additional 288 shares during the period. Finally, Legacy Financial Group LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the subject of several recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their target price for the company from $140.00 to $190.00 in a research report on Tuesday, January 9th. Oppenheimer decreased their target price on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, Barclays increased their target price on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

Insider Buying and Selling

In related news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the transaction, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the transaction, the chief executive officer now directly owns 32,819 shares in the company, valued at approximately $5,873,288.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Stacey Friedman sold 6,030 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the transaction, the general counsel now owns 59,456 shares in the company, valued at $10,864,394.88. The disclosure for this sale can be found here. Insiders have sold a total of 1,020,696 shares of company stock worth $186,794,151 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $185.80 on Friday. JPMorgan Chase & Co. has a 12-month low of $131.81 and a 12-month high of $200.94. The business’s fifty day moving average is $188.83 and its 200 day moving average is $169.06. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. The stock has a market cap of $533.63 billion, a P/E ratio of 11.22, a P/E/G ratio of 2.28 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be issued a $1.15 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

JPMorgan Chase & Co. 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.