Hobbs Wealth Management LLC Takes $341,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Hobbs Wealth Management LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,422 shares of the financial services provider's stock, valued at approximately $341,000. JPMorgan Chase & Co. makes up 0.4% of Hobbs Wealth Management LLC's holdings, making the stock its 29th largest holding.

Several other large investors have also recently modified their holdings of JPM. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter valued at approximately $34,000. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $43,000. Prudent Man Investment Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. Finally, Collier Financial purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at $45,000. Institutional investors own 71.55% of the company's stock.

Insider Activity

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company's stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the 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 completion of the transaction, the chief executive officer now owns 158,381 shares of the company's stock, valued at $42,737,529.04. The trade was a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.

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Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on JPM. Bank of America reduced their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Evercore ISI cut their price target on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Wolfe Research raised shares of 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 boosted their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a research report on Thursday, January 16th. Finally, Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $254.83.

JPMorgan Chase & Co. Price Performance

NYSE JPM traded up $9.15 during mid-day trading on Friday, hitting $236.26. The stock had a trading volume of 20,275,665 shares, compared to its average volume of 9,644,585. The firm's 50 day moving average is $248.89 and its 200 day moving average is $242.03. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The stock has a market capitalization of $660.60 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.44 earnings per share. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.'s payout ratio is currently 28.37%.

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.