Griffin Asset Management Inc. Acquires 271 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Griffin Asset Management Inc. increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,686 shares of the financial services provider’s stock after buying an additional 271 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.4% of Griffin Asset Management Inc.’s holdings, making the stock its 13th biggest holding. Griffin Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $11,343,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Curbstone Financial Management Corp boosted its stake in JPMorgan Chase & Co. by 0.3% in the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after purchasing an additional 60 shares in the last quarter. Grey Street Capital LLC lifted its stake in JPMorgan Chase & Co. by 0.9% during the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock valued at $1,190,000 after acquiring an additional 60 shares during the period. Sendero Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 1.1% during the 4th quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of JPMorgan Chase & Co. by 0.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 64 shares during the last quarter. Finally, Affinity Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 0.4% during the 2nd quarter. Affinity Wealth Management LLC now owns 19,082 shares of the financial services provider’s stock valued at $2,775,000 after purchasing an additional 68 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,812 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total value of $301,969.80. Following the transaction, the insider now owns 46,766 shares of the company’s stock, valued at approximately $7,793,553.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Ashley Bacon sold 3,368 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total transaction of $561,546.64. Following the transaction, the insider now owns 205,461 shares of the company’s stock, valued at approximately $34,256,512.53. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Peter Scher sold 1,812 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total value of $301,969.80. Following the sale, the insider now owns 46,766 shares in the company, valued at approximately $7,793,553.90. The disclosure for this sale can be found here. Insiders sold a total of 849,303 shares of company stock worth $155,107,447 in the last three months. 0.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JPM. Morgan Stanley increased their target price on shares of JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Oppenheimer cut their price objective on shares of JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th. Barclays increased their target price on JPMorgan Chase & Co. from $186.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. BMO Capital Markets raised their price target on JPMorgan Chase & Co. from $192.00 to $194.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 16th. Finally, Piper Sandler lifted their target price on JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $181.63.

JPMorgan Chase & Co. Stock Down 0.0 %

Shares of JPM opened at $198.86 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a one year low of $126.22 and a one year high of $200.94. The stock has a market capitalization of $572.79 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.54 and a beta of 1.15. The stock has a 50 day moving average price of $184.05 and a 200 day moving average price of $164.86.

JPMorgan Chase & Co. (NYSE:JPM) last issued 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). The company had revenue of $38.57 billion during the quarter, compared to analysts’ expectations of $39.73 billion. JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.57 earnings per share. Equities research analysts forecast that JPMorgan Chase & Co. will post 15.75 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a $1.15 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.89%.

JPMorgan Chase & Co. Company Profile

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.