Grant Private Wealth Management Inc Takes $1.62 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Grant Private Wealth Management Inc purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,760 shares of the financial services provider’s stock, valued at approximately $1,620,000. JPMorgan Chase & Co. accounts for approximately 1.7% of Grant Private Wealth Management Inc’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in JPMorgan Chase & Co. by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after purchasing an additional 876,417 shares during the period. Norges Bank purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth about $8,310,884,000. Charles Schwab Investment Management Inc. lifted its holdings in JPMorgan Chase & Co. by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock valued at $4,818,905,000 after buying an additional 71,122 shares in the last quarter. Fisher Asset Management LLC boosted its position in JPMorgan Chase & Co. by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock valued at $4,171,298,000 after buying an additional 617,164 shares during the period. Finally, Franklin Resources Inc. grew its stake in JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after acquiring an additional 1,016,289 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Monday, March 24th. The shares were 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 directly owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,848 shares of company stock valued at $19,987,908. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $210.09 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm has a market cap of $587.43 billion, a PE ratio of 10.64, a P/E/G ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The stock has a fifty day moving average price of $254.71 and a 200-day moving average price of $241.51.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same period last year, the business posted $3.04 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts predict 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. Investors of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend 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 2.67%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $215.00 to $220.00 in a report on Friday, March 7th. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a report on Friday, January 3rd. Bank of America cut their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI cut their target price on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 1st. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.83.

About JPMorgan Chase & Co.

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.