Essential Planning LLC. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 5,832.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,888 shares of the financial services provider's stock after acquiring an additional 83,457 shares during the period. Essential Planning LLC.'s holdings in JPMorgan Chase & Co. were worth $19,741,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in JPM. Principal Financial Group Inc. raised its position in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock valued at $1,228,110,000 after buying an additional 182,648 shares in the last quarter. United Bank raised its holdings in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider's stock valued at $5,346,000 after acquiring an additional 614 shares in the last quarter. Maxwell Wealth Strategies Inc. lifted its position in shares of JPMorgan Chase & Co. by 21.9% during the 3rd quarter. Maxwell Wealth Strategies Inc. now owns 32,622 shares of the financial services provider's stock valued at $7,225,000 after acquiring an additional 5,852 shares during the period. RIA Advisory Group LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth $402,000. Finally, KPP Advisory Services LLC increased its position in shares of JPMorgan Chase & Co. by 0.8% in the third quarter. KPP Advisory Services LLC now owns 13,136 shares of the financial services provider's stock worth $2,770,000 after purchasing an additional 104 shares during the period. Institutional investors own 71.55% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on JPM shares. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, January 7th. UBS Group increased their price target 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. Barclays lifted their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. Baird R W upgraded JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a "peer perform" rating to an "outperform" rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $252.89.
Read Our Latest Report on JPMorgan Chase & Co.
JPMorgan Chase & Co. Trading Up 2.7 %
NYSE JPM traded up $6.60 on Monday, reaching $248.23. The company had a trading volume of 9,417,743 shares, compared to its average volume of 8,869,022. The firm has a market cap of $694.07 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The business has a 50 day moving average of $257.86 and a two-hundred day moving average of $239.50.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the company posted $3.04 EPS. The business's revenue was up 10.9% on a year-over-year basis. Analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.26%. 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. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.37%.
Insiders Place Their Bets
In other news, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 158,381 shares of the company's stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,326 shares of company stock worth $12,448,445. 0.79% of the stock is currently owned by insiders.
About JPMorgan Chase & Co.
(
Free Report)
JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
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