IMG Wealth Management Inc. Takes Position in JPMorgan Chase & Co. (NYSE:JPM)

IMG Wealth Management Inc. acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,354 shares of the financial services provider’s stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of JPM. Midwest Capital Advisors LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter valued at $43,000. Collier Financial bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter valued at $45,000. Lowe Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 34.0% in the fourth 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 in the last quarter. Kieckhefer Group LLC acquired a new position in JPMorgan Chase & Co. during the fourth quarter worth $50,000. Finally, Legacy Investment Solutions LLC bought a new stake in JPMorgan Chase & Co. during the third quarter worth $45,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of 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. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target on the stock in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $252.89.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $248.23 on Tuesday. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company’s 50 day moving average price is $257.94 and its two-hundred day moving average price is $239.71. The firm has a market cap of $694.07 billion, a PE ratio of 12.57, a PEG ratio of 2.83 and a beta of 1.10. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 earnings per share. Equities research analysts predict 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 given a $1.40 dividend. The ex-dividend date is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

Insider Activity at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. This trade represents a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 over the last quarter. 0.79% of the stock is owned by corporate insiders.

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.