Magnolia Private Wealth LLC Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Magnolia Private Wealth LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,102 shares of the financial services provider’s stock after acquiring an additional 361 shares during the period. Magnolia Private Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. DDD Partners LLC lifted its stake in JPMorgan Chase & Co. by 2.8% during the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in JPMorgan Chase & Co. by 1.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 38 shares in the last quarter. Almanack Investment Partners LLC. lifted its position in shares of JPMorgan Chase & Co. by 0.8% during the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after buying an additional 39 shares during the last quarter. Hurlow Wealth Management Group Inc. lifted its position in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Hurlow Wealth Management Group Inc. now owns 5,538 shares of the financial services provider’s stock worth $1,328,000 after buying an additional 40 shares during the last quarter. Finally, Wimmer Associates 1 LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Wimmer Associates 1 LLC now owns 4,114 shares of the financial services provider’s stock valued at $986,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $268.05 on Friday. 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 firm’s 50 day moving average is $251.13 and its 200-day moving average is $250.46. JPMorgan Chase & Co. has a 12-month low of $190.88 and a 12-month high of $280.25. The stock has a market capitalization of $744.94 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.83 and a beta of 1.08.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating 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 analyst estimates of $43.62 billion. During the same quarter last year, the company posted $4.44 EPS. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.09%. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. 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 research note on Tuesday, April 1st. Royal Bank of Canada reaffirmed a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Robert W. Baird boosted their target price on JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a “neutral” rating in a report on Tuesday, May 20th. Truist Financial upped their target price on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the company a “hold” rating in a research report on Monday, June 2nd. Finally, Morgan Stanley restated an “equal weight” rating on shares of JPMorgan Chase & Co. in a research note on Monday, June 2nd. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $269.65.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the transaction, the general counsel now owns 36,520 shares in the company, valued at $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. The trade was a 15.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,722 shares of company stock valued at $25,599,477 in the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

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.