Prosperity Financial Group Inc. Acquires 66 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Prosperity Financial Group Inc. raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,192 shares of the financial services provider’s stock after purchasing an additional 66 shares during the quarter. Prosperity Financial Group Inc.’s holdings in JPMorgan Chase & Co. were worth $1,484,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. DDD Partners LLC increased its holdings in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its position in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 38 shares during the last quarter. Rappaport Reiches Capital Management LLC grew its position in JPMorgan Chase & Co. by 3.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares during the last quarter. Yoder Wealth Management Inc. increased its stake in JPMorgan Chase & Co. by 2.8% during the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 39 shares in the last quarter. Finally, Almanack Investment Partners LLC. raised its holdings in shares of JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock worth $1,233,000 after buying an additional 39 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction dated 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 sale, 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. In the last three months, insiders sold 46,326 shares of company stock worth $12,448,445. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

JPM has been the topic of several research reports. 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 objective 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. Piper Sandler raised their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Bank of America raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, January 7th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Trading Up 1.8 %

Shares of JPM stock opened at $239.21 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. The company has a market cap of $668.84 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 2.83 and a beta of 1.10. The stock has a 50 day simple moving average of $257.92 and a 200-day simple moving average of $239.11. 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 quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.04 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.34%. This is a boost 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 25.33%.

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.