Modern Wealth Management LLC Raises Stake in JPMorgan Chase & Co. (NYSE:JPM)

Modern Wealth Management LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 472.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 156,818 shares of the financial services provider’s stock after buying an additional 129,417 shares during the period. JPMorgan Chase & Co. makes up about 1.3% of Modern Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. Modern Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $37,591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Proficio Capital Partners LLC boosted its position in shares of JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after buying an additional 3,489,314 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in JPMorgan Chase & Co. by 137.8% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,376,176 shares of the financial services provider’s stock worth $922,760,000 after acquiring an additional 2,535,590 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in JPMorgan Chase & Co. by 93.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,692,159 shares of the financial services provider’s stock worth $567,669,000 after acquiring an additional 1,301,764 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $259,038,000. Finally, Franklin Resources Inc. lifted its position in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on JPM shares. Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Keefe, Bruyette & Woods increased their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Truist Financial upped their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Stock Down 2.1 %

Shares of JPMorgan Chase & Co. stock opened at $242.97 on Friday. The stock has a market capitalization of $679.36 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. 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 business’s 50 day simple moving average is $257.55 and its 200-day simple moving average is $240.54.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same period last year, the company earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 28.37%.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on 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 directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction 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 sale, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. The trade was a 15.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,848 shares of company stock worth $19,987,908. 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. 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.