Wallace Advisory Group LLC Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Wallace Advisory Group LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 14.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,821 shares of the financial services provider’s stock after purchasing an additional 846 shares during the period. JPMorgan Chase & Co. comprises about 1.0% of Wallace Advisory Group LLC’s investment portfolio, making the stock its 24th largest position. Wallace Advisory Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,366,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of JPM. Stone House Investment Management LLC boosted its position in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares during the last quarter. Bare Financial Services Inc acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $35,000. Partnership Wealth Management LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $36,000. Stuart Chaussee & Associates Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the 4th quarter worth $40,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $40,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. Royal Bank of Canada restated an “outperform” rating and set a $211.00 price target on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 21st. Jefferies Financial Group lifted their price target on shares of JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Oppenheimer dropped their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research report on Monday, April 15th. Robert W. Baird raised their target price on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, May 21st. Finally, Piper Sandler upped their price target on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.10.

JPMorgan Chase & Co. Price Performance

JPM opened at $198.14 on Wednesday. The company has a market capitalization of $568.99 billion, a P/E ratio of 11.96, a PEG ratio of 2.67 and a beta of 1.12. The company has a 50-day moving average of $195.87 and a 200-day moving average of $185.44. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.92 and a current ratio of 0.92. JPMorgan Chase & Co. has a 1-year low of $135.19 and a 1-year high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.45. The firm had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Equities analysts expect that JPMorgan Chase & Co. will post 16.44 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Insiders Place Their Bets

In other news, CEO James Dimon sold 178,222 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the completion of the transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $184.18, for a total value of $32,824,927.96. Following the sale, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elena A. Korablina sold 21,829 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $190.91, for a total transaction of $4,167,374.39. Following the transaction, the insider now owns 6,484 shares of the company’s stock, valued at approximately $1,237,860.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,565 shares of company stock valued at $46,962,717. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. 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.