Modern Wealth Management LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Modern Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 472.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,818 shares of the financial services provider's stock after purchasing an additional 129,417 shares during the quarter. JPMorgan Chase & Co. accounts for 1.3% of Modern Wealth Management LLC's holdings, making the stock its 16th largest position. Modern Wealth Management LLC's holdings in JPMorgan Chase & Co. were worth $37,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings 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 worth $1,228,110,000 after acquiring an additional 182,648 shares during the last quarter. United Bank grew its position in shares of 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 buying an additional 614 shares during the last quarter. Cynosure Group LLC increased its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Cynosure Group LLC now owns 17,542 shares of the financial services provider's stock valued at $3,699,000 after buying an additional 422 shares during the period. Insight Wealth Partners LLC raised its position in shares of JPMorgan Chase & Co. by 19.8% during the third quarter. Insight Wealth Partners LLC now owns 2,362 shares of the financial services provider's stock worth $498,000 after acquiring an additional 391 shares during the last quarter. Finally, Freedom Investment Management Inc. lifted its stake in shares of JPMorgan Chase & Co. by 7.3% in the third quarter. Freedom Investment Management Inc. now owns 8,224 shares of the financial services provider's stock worth $1,734,000 after acquiring an additional 557 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Up 1.2 %

JPMorgan Chase & Co. stock traded up $2.89 during trading on Wednesday, hitting $246.55. 1,932,084 shares of the company were exchanged, compared to its average volume of 9,334,753. The company has a market capitalization of $689.39 billion, a P/E ratio of 12.47, a PEG ratio of 2.83 and a beta of 1.10. The business's 50 day moving average is $256.88 and its 200 day moving average is $241.33. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week 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.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.37%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays raised their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. UBS Group upped their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Evercore ISI lowered their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday. Piper Sandler upped their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an "overweight" rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $255.06.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. 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.