Millstone Evans Group LLC Acquires New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Millstone Evans Group LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,340 shares of the financial services provider's stock, valued at approximately $2,958,000. JPMorgan Chase & Co. comprises about 2.0% of Millstone Evans Group LLC's holdings, making the stock its 8th biggest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Legacy Investment Solutions LLC acquired a new position in shares of JPMorgan Chase & Co. in the third quarter valued at $45,000. Collier Financial acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $45,000. Lowe Wealth Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 51 shares during the period. Finally, Kieckhefer Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth about $50,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a research note on Tuesday, December 3rd. Wolfe Research raised JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price objective on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price objective on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Bank of America boosted their target price on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, January 7th. Finally, Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a "hold" rating in a research report on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $252.89.

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JPMorgan Chase & Co. Stock Down 0.8 %

Shares of JPM traded down $1.88 during trading hours on Monday, reaching $240.97. The stock had a trading volume of 2,192,209 shares, compared to its average volume of 9,316,132. The firm has a 50-day simple moving average of $257.55 and a 200 day simple moving average of $240.77. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $673.79 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the firm earned $3.04 earnings per share. The business's quarterly revenue was up 10.9% compared to the same quarter last year. Equities research analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. JPMorgan Chase & Co.'s dividend payout ratio is 28.37%.

Insider Activity

In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now directly owns 50,377 shares of the company's stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 over the last 90 days. 0.79% of the stock is currently owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.