Octavia Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 13.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,303 shares of the financial services provider’s stock after acquiring an additional 2,835 shares during the period. JPMorgan Chase & Co. accounts for approximately 0.7% of Octavia Wealth Advisors LLC’s investment portfolio, making the stock its 28th biggest holding. Octavia Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $5,586,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in JPM. Financial Avengers Inc. raised its holdings in JPMorgan Chase & Co. by 5.2% during the 3rd quarter. Financial Avengers Inc. now owns 868 shares of the financial services provider’s stock worth $183,000 after buying an additional 43 shares during the period. Matrix Trust Co raised its holdings in JPMorgan Chase & Co. by 0.4% during the 4th quarter. Matrix Trust Co now owns 10,179 shares of the financial services provider’s stock worth $2,440,000 after buying an additional 43 shares during the period. One Charles Private Wealth Services LLC raised its holdings in JPMorgan Chase & Co. by 0.4% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 12,179 shares of the financial services provider’s stock worth $2,568,000 after buying an additional 44 shares during the period. Murphy Middleton Hinkle & Parker Inc. raised its holdings in JPMorgan Chase & Co. by 1.6% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 2,881 shares of the financial services provider’s stock worth $691,000 after buying an additional 44 shares during the period. Finally, Henrickson Nauta Wealth Advisors Inc. raised its holdings in JPMorgan Chase & Co. by 1.3% during the 3rd quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,436 shares of the financial services provider’s stock worth $725,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.
Insider Activity
In other news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.79% of the stock is owned by company insiders.
JPMorgan Chase & Co. Trading Down 0.5 %
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating 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 company had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter last year, the company posted $3.04 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts predict that JPMorgan Chase & Co. will post 17.82 EPS for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.89%. JPMorgan Chase & Co.’s dividend payout ratio is 25.33%.
Analyst Ratings Changes
Several equities analysts have weighed in on JPM shares. Morgan Stanley cut JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. 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 note on Friday, January 3rd. Truist Financial lifted their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Bank of America lifted their target price on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Finally, UBS Group lifted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $251.78.
Check Out Our Latest Research Report on JPMorgan Chase & Co.
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.
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