Forefront Wealth Management Inc. Takes $2.32 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Forefront Wealth Management Inc. purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,662 shares of the financial services provider's stock, valued at approximately $2,316,000. JPMorgan Chase & Co. accounts for approximately 2.1% of Forefront Wealth Management Inc.'s portfolio, making the stock its 18th biggest position.

Several other hedge funds have also bought and sold shares of JPM. Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Legacy Investment Solutions LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $45,000. Collier Financial acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $45,000. Lowe Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 34.0% in the 4th 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 in the last quarter. Finally, Kieckhefer Group LLC acquired a new position in JPMorgan Chase & Co. in the 4th quarter worth about $50,000. Hedge funds and other institutional investors own 71.55% of the company's stock.

JPMorgan Chase & Co. Stock Down 0.7 %

Shares of JPM stock traded down $1.72 during trading hours on Tuesday, reaching $243.58. 8,048,355 shares of the stock were exchanged, compared to its average volume of 9,363,549. The business's fifty day moving average is $256.88 and its two-hundred day moving average is $241.33. The firm has a market capitalization of $681.06 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

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JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate 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 company had revenue of $42.77 billion during the quarter, compared to analysts' expectations of $41.90 billion. During the same quarter in the previous year, the business posted $3.04 EPS. The firm's revenue was up 10.9% on a year-over-year basis. As a group, research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is currently 28.37%.

Analysts Set New Price Targets

JPM has been the topic of several research analyst reports. Truist Financial raised their price objective on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Barclays increased their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Baird R W raised shares of JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a research note on Friday, March 7th. Finally, Evercore ISI lowered their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and a consensus target price of $254.83.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares of the company's stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 sale, the chief executive officer now directly owns 158,381 shares in the company, valued at approximately $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock worth $19,987,908 over the last ninety days. Corporate insiders own 0.79% of the company's stock.

JPMorgan Chase & Co. Company Profile

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.