Magnus Financial Group LLC Acquires 1,537 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Magnus Financial Group LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% during the 4th quarter, Holdings Channel reports. The fund owned 46,011 shares of the financial services provider’s stock after purchasing an additional 1,537 shares during the period. JPMorgan Chase & Co. comprises approximately 1.0% of Magnus Financial Group LLC’s holdings, making the stock its 25th largest position. Magnus Financial Group LLC’s holdings in JPMorgan Chase & Co. were worth $7,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in JPM. HHM Wealth Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 3.6% in the 4th quarter. HHM Wealth Advisors LLC now owns 6,482 shares of the financial services provider’s stock worth $1,103,000 after buying an additional 223 shares during the last quarter. Convergence Investment Partners LLC boosted its stake in JPMorgan Chase & Co. by 0.8% in the fourth quarter. Convergence Investment Partners LLC now owns 22,631 shares of the financial services provider’s stock valued at $3,850,000 after acquiring an additional 181 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in JPMorgan Chase & Co. by 5.8% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 6,219 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 340 shares during the last quarter. Intellectus Partners LLC increased its position in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Intellectus Partners LLC now owns 21,545 shares of the financial services provider’s stock worth $3,665,000 after purchasing an additional 309 shares in the last quarter. Finally, RiverFront Investment Group LLC lifted its holdings in shares of JPMorgan Chase & Co. by 7.4% during the 4th quarter. RiverFront Investment Group LLC now owns 54,421 shares of the financial services provider’s stock valued at $9,256,000 after purchasing an additional 3,773 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $195.36, for a total transaction of $765,811.20. Following the sale, the insider now owns 64,783 shares in the company, valued at $12,656,006.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Ashley Bacon sold 3,368 shares of the business’s 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 completion of the sale, the insider now directly owns 202,093 shares in the company, valued at $36,174,647. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lori A. Beer sold 3,920 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now owns 64,783 shares in the company, valued at approximately $12,656,006.88. The disclosure for this sale can be found here. Insiders sold a total of 1,020,696 shares of company stock worth $186,794,151 in the last three months. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods increased their price objective on shares of 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. Piper Sandler dropped their target price on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price target for the stock from $140.00 to $190.00 in a 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.05.

JPMorgan Chase & Co. Stock Down 0.6 %

Shares of JPM stock opened at $190.51 on Friday. JPMorgan Chase & Co. has a twelve month low of $131.81 and a twelve month high of $200.94. The stock has a market cap of $547.08 billion, a P/E ratio of 11.50, a P/E/G ratio of 2.40 and a beta of 1.13. The stock has a 50 day moving average of $191.40 and a 200 day moving average of $172.13. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.41%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is 27.78%.

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.