Virtus Wealth Solutions LLC Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Virtus Wealth Solutions LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,621 shares of the financial services provider's stock, valued at approximately $3,025,000. JPMorgan Chase & Co. accounts for approximately 0.7% of Virtus Wealth Solutions LLC's holdings, making the stock its 23rd largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Disciplined Investments LLC acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $217,000. LGT Group Foundation boosted its position in shares of JPMorgan Chase & Co. by 2.8% during the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock valued at $126,040,000 after purchasing an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. grew its position in shares of JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after buying an additional 4,375 shares during the period. Jag Capital Management LLC increased its stake in JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after purchasing an additional 140 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock worth $938,491,000 after buying an additional 319,730 shares during the period. Institutional investors own 71.55% of the company's stock.

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JPMorgan Chase & Co. Trading Down 0.7 %

NYSE:JPM traded down $1.68 during trading hours on Tuesday, hitting $233.04. The company had a trading volume of 10,902,541 shares, compared to its average volume of 9,642,482. JPMorgan Chase & Co. has a 52 week low of $179.20 and a 52 week 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. The stock has a 50-day moving average price of $248.17 and a 200 day moving average price of $242.43. The company has a market capitalization of $648.54 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the company earned $4.44 earnings per share. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS 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. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.40%. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.'s payout ratio is 27.49%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the business's stock in a transaction dated 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 owns 50,377 shares of the company's stock, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now owns 133,381 shares in the company, valued at approximately $32,947,774.62. This trade represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JPM. Barclays raised their price target on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. UBS Group lifted their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a "buy" rating in a report on Thursday, January 16th. Bank of America cut their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Wolfe Research raised 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. Finally, StockNews.com cut JPMorgan Chase & Co. from a "hold" rating to a "sell" rating in a report on Monday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of "Hold" and an average target price of $254.11.

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.