Morey & Quinn Wealth Partners LLC Invests $357,000 in JPMorgan Chase & Co. (NYSE:JPM)

Morey & Quinn Wealth Partners LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,488 shares of the financial services provider’s stock, valued at approximately $357,000.

A number of other hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. grew its position in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after buying an additional 182,648 shares during the period. United Bank grew its position in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after acquiring an additional 614 shares during the period. Icon Wealth Advisors LLC increased its stake in shares of JPMorgan Chase & Co. by 7.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 32,571 shares of the financial services provider’s stock worth $6,868,000 after purchasing an additional 2,242 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of JPMorgan Chase & Co. by 1.7% in the 3rd quarter. Captrust Financial Advisors now owns 734,375 shares of the financial services provider’s stock worth $154,850,000 after purchasing an additional 12,411 shares during the period. Finally, Fred Alger Management LLC lifted its stake in JPMorgan Chase & Co. by 3.6% in the third quarter. Fred Alger Management LLC now owns 111,678 shares of the financial services provider’s stock valued at $23,548,000 after purchasing an additional 3,854 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on JPM shares. UBS Group boosted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, Bank of America lifted their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

Insiders Place Their Bets

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. This trade represents a 15.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Stacey Friedman sold 3,303 shares of the business’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 sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,848 shares of company stock valued at $19,987,908. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $242.97 on Monday. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The firm’s fifty day moving average price is $257.55 and its 200-day moving average price is $240.77. The stock has a market cap of $679.36 billion, a P/E ratio of 12.31, 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. (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 the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 earnings per share. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.