Redmont Wealth Advisors LLC Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

Redmont Wealth Advisors LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,176 shares of the financial services provider’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Stone House Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after buying an additional 89 shares during the period. Macroview Investment Management LLC raised its holdings in shares of JPMorgan Chase & Co. by 7,833.3% during the 3rd 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 purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter valued at about $40,000. Rakuten Securities Inc. purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $44,000. Finally, Morton Brown Family Wealth LLC raised its holdings in shares of JPMorgan Chase & Co. by 2,308.3% during the 4th 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. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on JPM shares. Jefferies Financial Group lifted their price objective on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Oppenheimer dropped their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a report on Monday, April 15th. Piper Sandler dropped their price objective on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. BMO Capital Markets dropped their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Finally, Wells Fargo & Company lifted their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.05.

JPMorgan Chase & Co. Trading Up 0.1 %

Shares of JPM stock opened at $193.50 on Friday. The stock has a 50-day simple moving average of $190.36 and a 200 day simple moving average of $170.57. JPMorgan Chase & Co. has a fifty-two week low of $131.81 and a fifty-two week high of $200.94. The stock has a market capitalization of $555.75 billion, a P/E ratio of 11.68, a P/E/G 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.

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 paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 annualized dividend and a yield of 2.38%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 27.78%.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO James Dimon sold 821,778 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the completion of the sale, the chief executive officer now directly owns 595,316 shares of the company’s stock, valued at $108,782,092.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of the company’s 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 directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The disclosure for this sale can be found here. Insiders sold 1,020,696 shares of company stock valued at $186,794,151 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

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.