Arvest Investments Inc. Invests $7.79 Million in JPMorgan Chase & Co. (NYSE:JPM)

Arvest Investments Inc. bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 45,800 shares of the financial services provider’s stock, valued at approximately $7,791,000. JPMorgan Chase & Co. accounts for approximately 1.3% of Arvest Investments Inc.’s investment portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Macroview Investment Management LLC lifted its position in JPMorgan Chase & Co. by 7,833.3% during the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 235 shares during the period. Briaud Financial Planning Inc purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $40,000. FSC Wealth Advisors LLC lifted its position in JPMorgan Chase & Co. by 290.9% during the 3rd quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 288 shares during the period. Legacy Financial Group LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $58,000. Finally, Robbins Farley lifted its position in JPMorgan Chase & Co. by 29.5% during the 3rd quarter. Robbins Farley now owns 421 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 96 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, CEO Jennifer Piepszak sold 1,649 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.59, for a total transaction of $274,706.91. Following the sale, the chief executive officer now directly owns 34,467 shares of the company’s stock, valued at $5,741,857.53. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO James Dimon sold 821,778 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $150,163,493.94. Following the sale, the chief executive officer now owns 595,316 shares in the company, valued at $108,782,092.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jennifer Piepszak sold 1,649 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $166.59, for a total transaction of $274,706.91. Following the sale, the chief executive officer now owns 34,467 shares in the company, valued at approximately $5,741,857.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 849,303 shares of company stock valued at $155,107,447. Company insiders own 0.79% of the company’s stock.

Analyst Upgrades and Downgrades

JPM has been the subject of a number of recent research reports. Oppenheimer lowered their price target on shares of JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. BMO Capital Markets raised their price objective on shares of JPMorgan Chase & Co. from $192.00 to $194.00 and gave the company a “market perform” rating in a research note on Tuesday, January 16th. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.11.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE JPM opened at $195.47 on Thursday. The firm has a 50 day moving average of $187.52 and a 200 day moving average of $167.16. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $563.03 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 2.51 and a beta of 1.15. JPMorgan Chase & Co. has a 12-month low of $126.83 and a 12-month high of $200.94.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The business had revenue of $38.57 billion for the quarter, compared to the consensus estimate of $39.73 billion. During the same quarter last year, the firm posted $3.57 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts anticipate that JPMorgan Chase & Co. will post 15.8 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be paid a dividend of $1.15 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.35%. JPMorgan Chase & Co.’s payout ratio is 28.36%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.