Kornitzer Capital Management Inc. KS Buys 770 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Kornitzer Capital Management Inc. KS lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,836 shares of the financial services provider’s stock after purchasing an additional 770 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in JPMorgan Chase & Co. were worth $15,621,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Curbstone Financial Management Corp boosted its holdings in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock valued at $4,070,000 after acquiring an additional 60 shares during the period. Grey Street Capital LLC grew its position in shares of JPMorgan Chase & Co. by 0.9% in the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 60 shares during the last quarter. Financial Management Network Inc. increased its stake in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock valued at $1,296,000 after buying an additional 61 shares during the period. Sendero Wealth Management LLC increased its position in JPMorgan Chase & Co. by 1.1% during the 4th quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 62 shares during the period. Finally, Raleigh Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 64 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on JPM. BMO Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. Bank of America lifted their price target on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Wells Fargo & Company lifted their price target 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, Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and lifted their price target for the company from $140.00 to $190.00 in a research report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.05.

Insider Activity

In other news, Vice Chairman Peter Scher sold 1,810 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the sale, the insider now owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Jennifer Piepszak sold 1,648 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the sale, the chief executive officer now owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Peter Scher sold 1,810 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $323,917.60. Following the completion of the sale, the insider now directly owns 44,956 shares in the company, valued at approximately $8,045,325.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,020,696 shares of company stock valued at $186,794,151. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $193.50 on Friday. JPMorgan Chase & Co. has a 52-week low of $131.81 and a 52-week high of $200.94. The company has a market cap of $555.75 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.43 and a beta of 1.15. 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 firm’s fifty day moving average is $190.36 and its 200 day moving average is $170.57.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be paid a $1.15 dividend. The ex-dividend date is Thursday, April 4th. This represents a $4.60 annualized dividend and a dividend yield of 2.38%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

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.