Rockport Wealth LLC Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Rockport Wealth LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 4.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,639 shares of the financial services provider’s stock after buying an additional 73 shares during the quarter. Rockport Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $379,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of JPM. IMG Wealth Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth about $325,000. Signature Wealth Management Group raised its position in JPMorgan Chase & Co. by 22.0% during the 4th quarter. Signature Wealth Management Group now owns 2,299 shares of the financial services provider’s stock worth $551,000 after buying an additional 415 shares during the last quarter. SlateStone Wealth LLC lifted its stake in JPMorgan Chase & Co. by 1.6% during the 4th quarter. SlateStone Wealth LLC now owns 73,032 shares of the financial services provider’s stock valued at $17,507,000 after acquiring an additional 1,156 shares during the period. GWN Securities Inc. purchased a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at $3,096,000. Finally, Van Hulzen Asset Management LLC increased its stake in shares of JPMorgan Chase & Co. by 2.5% in the fourth quarter. Van Hulzen Asset Management LLC now owns 47,752 shares of the financial services provider’s stock worth $11,447,000 after acquiring an additional 1,165 shares during the period. 71.55% of the stock is owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $248.23 on Tuesday. The stock has a market capitalization of $694.07 billion, a P/E ratio of 12.57, a PEG ratio of 2.83 and a beta of 1.10. The business has a 50 day simple moving average of $257.94 and a two-hundred day simple moving average of $239.71. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly 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 return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same period in the prior year, the business earned $3.04 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. As a group, analysts predict 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is currently 28.37%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research report on Friday, January 3rd. Bank of America boosted their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised 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 boosted their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Piper Sandler upped their price objective 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. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now directly owns 47,620 shares in the company, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,848 shares of company stock worth $19,987,908. Insiders own 0.79% of the company’s stock.

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.