Clearstead Trust LLC Has $8.43 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Clearstead Trust LLC raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 19.4% in the fourth quarter, Holdings Channel reports. The fund owned 35,170 shares of the financial services provider’s stock after acquiring an additional 5,708 shares during the period. JPMorgan Chase & Co. accounts for about 1.8% of Clearstead Trust LLC’s portfolio, making the stock its 12th biggest position. Clearstead Trust LLC’s holdings in JPMorgan Chase & Co. were worth $8,431,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $43,000. Legacy Investment Solutions LLC acquired a new position in shares of JPMorgan Chase & Co. during the third quarter worth about $45,000. Collier Financial acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $45,000. Lowe Wealth Advisors LLC raised its holdings in JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 51 shares in the last quarter. Finally, Kieckhefer Group LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth about $50,000. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Trading Up 1.0 %

NYSE:JPM opened at $241.49 on Friday. 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 stock has a market capitalization of $675.24 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. The firm’s 50 day moving average is $257.86 and its 200 day moving average is $239.35. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion for 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%. JPMorgan Chase & Co.’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.04 EPS. Sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the business’s 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 legal filing with the SEC, which is available through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction on 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 $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock valued at $12,448,445 in the last 90 days. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JPM. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Keefe, Bruyette & Woods upped their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. UBS Group upped their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Bank of America upped their price objective 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. Ten 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

JPMorgan Chase & Co. Company Profile

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.