Rialto Wealth Management LLC Invests $448,000 in JPMorgan Chase & Co. (NYSE:JPM)

Rialto Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 1,870 shares of the financial services provider’s stock, valued at approximately $448,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JPM. Mizuho Securities Co. Ltd. purchased a new stake in shares of JPMorgan Chase & Co. during the third quarter valued at approximately $25,000. Midwest Capital Advisors LLC acquired a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Collier Financial purchased a new stake in JPMorgan Chase & Co. during the 4th quarter worth $45,000. Lowe Wealth Advisors LLC boosted its position in JPMorgan Chase & Co. by 34.0% in the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after buying an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $50,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $234.12 on Tuesday. The firm has a fifty day moving average of $258.16 and a 200-day moving average of $239.04. The company has a market cap of $654.64 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a 1 year low of $179.20 and a 1 year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same period in the previous year, the business posted $3.04 EPS. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Oppenheimer lowered JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Piper Sandler raised 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 report on Tuesday, December 3rd. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price target for the company from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Bank of America raised their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Ten analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the transaction, the chief executive officer now owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,326 shares of company stock valued at $12,448,445 in the last three months. 0.79% 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. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.