Concord Wealth Partners Increases Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Concord Wealth Partners grew its stake in JPMorgan Chase & Co. (NYSE:JPM) by 12.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 21,869 shares of the financial services provider’s stock after buying an additional 2,455 shares during the quarter. Concord Wealth Partners’ holdings in JPMorgan Chase & Co. were worth $3,720,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Etfidea LLC raised its stake in shares of JPMorgan Chase & Co. by 5.4% during the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 100 shares in the last quarter. TKG Advisors LLC raised its position in JPMorgan Chase & Co. by 97.6% in the 3rd quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock worth $1,915,000 after purchasing an additional 6,521 shares during the period. Sutton Place Investors LLC lifted its stake in JPMorgan Chase & Co. by 179.5% in the fourth quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after purchasing an additional 8,412 shares during the last quarter. Alley Investment Management Company LLC boosted its position in JPMorgan Chase & Co. by 0.4% during the third quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock valued at $18,405,000 after buying an additional 530 shares during the period. Finally, Allen Investment Management LLC grew its stake in shares of JPMorgan Chase & Co. by 15.8% during the third quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock valued at $25,341,000 after buying an additional 23,894 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JPM. Piper Sandler dropped their target price on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and increased their price objective for the company from $140.00 to $190.00 in a research note on Tuesday, January 9th. Jefferies Financial Group lifted their target price on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. BMO Capital Markets dropped their price target on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research report on Monday, April 15th. Finally, Evercore ISI boosted their price objective on shares of 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 analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.05.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, CEO Jennifer Piepszak sold 1,648 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO James Dimon sold 821,778 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the sale, the chief executive officer now owns 595,316 shares in the company, valued at $108,782,092.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,042,525 shares of company stock valued at $190,961,526. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.1 %

JPM opened at $191.80 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 52 week low of $133.13 and a 52 week high of $200.94. The stock has a market cap of $550.79 billion, a PE ratio of 11.58, a PEG ratio of 2.38 and a beta of 1.13. The business has a 50 day moving average of $191.74 and a 200-day moving average of $173.16.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating the consensus estimate of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Equities research analysts predict that JPMorgan Chase & Co. will post 15.98 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend 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.