Sovereign Financial Group Inc. Boosts Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Sovereign Financial Group Inc. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,255 shares of the financial services provider’s stock after buying an additional 667 shares during the period. Sovereign Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,499,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in JPM. Mayfair Advisory Group LLC raised its stake in shares of JPMorgan Chase & Co. by 5.9% during the fourth quarter. Mayfair Advisory Group LLC now owns 3,757 shares of the financial services provider’s stock valued at $901,000 after acquiring an additional 210 shares during the last quarter. Affinity Capital Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 3.3% during the fourth quarter. Affinity Capital Advisors LLC now owns 4,046 shares of the financial services provider’s stock valued at $984,000 after acquiring an additional 129 shares during the last quarter. Ignite Planners LLC raised its stake in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Ignite Planners LLC now owns 9,994 shares of the financial services provider’s stock valued at $2,431,000 after acquiring an additional 78 shares during the last quarter. Tlwm raised its stake in shares of JPMorgan Chase & Co. by 4.6% during the fourth quarter. Tlwm now owns 8,290 shares of the financial services provider’s stock valued at $1,987,000 after acquiring an additional 368 shares during the last quarter. Finally, McNaughton Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. by 0.9% during the fourth quarter. McNaughton Wealth Management LLC now owns 6,014 shares of the financial services provider’s stock valued at $1,442,000 after acquiring an additional 53 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.9 %

NYSE:JPM opened at $252.22 on Thursday. The company’s 50 day moving average price is $242.60 and its 200-day moving average price is $223.51. JPMorgan Chase & Co. has a 52 week low of $164.30 and a 52 week high of $254.31. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.27. The stock has a market cap of $710.09 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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 net margin of 19.64% and a return on equity of 16.71%. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 17.62 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analyst Ratings Changes

Several brokerages have recently commented on JPM. Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $216.00 to $254.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 20th. Citigroup increased their price target on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research note on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $245.83.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.