Summit Financial LLC Grows Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Summit Financial LLC lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,285 shares of the financial services provider’s stock after buying an additional 984 shares during the quarter. JPMorgan Chase & Co. makes up 0.5% of Summit Financial LLC’s holdings, making the stock its 26th largest position. Summit Financial LLC’s holdings in JPMorgan Chase & Co. were worth $7,533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JPM. Curbstone Financial Management Corp lifted its stake in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after acquiring an additional 60 shares in the last quarter. Grey Street Capital LLC raised its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock valued at $1,190,000 after purchasing an additional 60 shares in the last quarter. Financial Management Network Inc. lifted its stake in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 61 shares during the last quarter. Sendero Wealth Management LLC lifted its stake in shares of JPMorgan Chase & Co. by 1.1% in 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 last quarter. Finally, Raleigh Capital Management Inc. increased its position in JPMorgan Chase & Co. by 0.8% during the third quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock worth $1,182,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

Insider Activity

In related news, Vice Chairman Peter Scher sold 1,810 shares of the stock in a transaction dated 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 owns 44,956 shares in the company, valued at approximately $8,045,325.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Vice Chairman Peter Scher sold 1,810 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $323,917.60. Following the sale, the insider now directly owns 44,956 shares in the company, valued at approximately $8,045,325.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. 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 completion of the transaction, the chief executive officer now 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. In the last quarter, insiders have sold 1,042,525 shares of company stock worth $190,961,526. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.1 %

Shares of JPM stock opened at $191.80 on Wednesday. JPMorgan Chase & Co. has a one year low of $133.13 and a one year high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a fifty day moving average price of $191.74 and a 200 day moving average price of $173.16. The stock has a market cap of $550.79 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13.

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

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Thursday, April 4th. 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 2.40%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. BMO Capital Markets reduced their price target on 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. UBS Group reduced their target price on JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Finally, Morgan Stanley dropped their target price on shares of JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating on the stock in a report on Monday, April 15th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $192.05.

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.