Broadway Wealth Solutions Inc. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,496 shares of the financial services provider's stock, valued at approximately $598,000. JPMorgan Chase & Co. accounts for about 0.5% of Broadway Wealth Solutions Inc.'s investment portfolio, making the stock its 22nd largest holding.
A number of other hedge funds have also recently made changes to their positions in JPM. DDD Partners LLC raised its position in JPMorgan Chase & Co. by 2.8% in the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider's stock valued at $339,000 after purchasing an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock worth $622,000 after purchasing an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC lifted its holdings in JPMorgan Chase & Co. by 3.8% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider's stock valued at $256,000 after acquiring an additional 39 shares during the period. Yoder Wealth Management Inc. increased its holdings in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider's stock valued at $344,000 after purchasing an additional 39 shares in the last quarter. Finally, Almanack Investment Partners LLC. lifted its stake in shares of JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider's stock valued at $1,233,000 after purchasing an additional 39 shares during the period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on JPM shares. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Robert W. Baird raised JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Evercore ISI decreased their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Finally, Wolfe Research raised JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $255.06.
Check Out Our Latest Report on JPM
JPMorgan Chase & Co. Trading Up 1.0 %
Shares of JPM traded up $2.44 on Wednesday, hitting $246.10. 7,726,552 shares of the stock traded hands, compared to its average volume of 9,366,502. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25. The stock's 50 day moving average is $256.88 and its two-hundred day moving average is $241.33. The firm has a market capitalization of $688.12 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. During the same period in the previous year, the firm posted $3.04 EPS. JPMorgan Chase & Co.'s revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a dividend of $1.40 per share. 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 yield of 2.28%. JPMorgan Chase & Co.'s dividend payout ratio is 28.37%.
Insider Buying and Selling
In other news, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares in the company, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm'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 transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by company insiders.
JPMorgan Chase & Co. Profile
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Free Report)
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.
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