Bestgate Wealth Advisors LLC Makes New $492,000 Investment in JPMorgan Chase & Co. (NYSE:JPM)

Bestgate Wealth Advisors LLC bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,051 shares of the financial services provider’s stock, valued at approximately $492,000. JPMorgan Chase & Co. accounts for about 1.0% of Bestgate Wealth Advisors LLC’s portfolio, making the stock its 25th biggest position.

Several other institutional investors have also recently made changes to their positions in the company. Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $43,000. Legacy Investment Solutions LLC bought a new position in shares of JPMorgan Chase & Co. in the third quarter worth about $45,000. Collier Financial purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $45,000. Lowe Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after buying an additional 51 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $50,000. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPM stock opened at $250.99 on Thursday. The firm has a market capitalization of $701.79 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock’s 50-day simple moving average is $257.99 and its 200-day simple moving average is $240.06. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the prior year, the business posted $3.04 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a yield of 2.23%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is currently 28.37%.

Analyst Ratings Changes

JPM has been the subject of several research analyst reports. Barclays lifted 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 note on Thursday, January 16th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. UBS Group increased their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, Piper Sandler raised their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

Insider Activity

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction on 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 directly owns 54,469 shares of the company’s stock, valued at approximately $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,848 shares of company stock valued at $19,987,908. Company 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. 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.