Everence Capital Management Inc. Acquires New Position in JPMorgan Chase & Co. (NYSE:JPM)

Everence Capital Management Inc. acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the first quarter, HoldingsChannel reports. The fund acquired 69,925 shares of the financial services provider’s stock, valued at approximately $10,645,000. JPMorgan Chase & Co. makes up approximately 1.0% of Everence Capital Management Inc.’s investment portfolio, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in JPM. Cypress Point Wealth Management LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $25,000. Inspire Advisors LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $27,000. Retirement Group LLC bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $29,000. TFO TDC LLC grew its position in JPMorgan Chase & Co. by 107.6% during the 4th quarter. TFO TDC LLC now owns 357 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 185 shares during the last quarter. Finally, Valley Forge Investment Consultants Inc. ADV bought a new position in JPMorgan Chase & Co. during the 4th quarter worth approximately $48,000. 69.02% of the stock is currently owned by institutional investors.

In other news, CEO Douglas B. Petno sold 22,011 shares of the business’s stock in a transaction on Friday, January 29th. The stock was sold at an average price of $129.84, for a total value of $2,857,908.24. 0.78% of the stock is owned by insiders.

NYSE:JPM traded down $0.47 during trading hours on Thursday, reaching $154.46. 582,419 shares of the company traded hands, compared to its average volume of 15,497,205. The business’s 50-day moving average price is $152.02 and its two-hundred day moving average price is $126.38. The stock has a market capitalization of $471.34 billion, a P/E ratio of 20.25, a P/E/G ratio of 2.87 and a beta of 1.23. JPMorgan Chase & Co. has a 1 year low of $82.40 and a 1 year high of $161.69. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.16.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Thursday, January 14th. The financial services provider reported $3.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.62 by $1.17. The business had revenue of $29.22 billion during the quarter, compared to analysts’ expectations of $28.74 billion. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.57 earnings per share. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 7.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Tuesday, April 6th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Monday, April 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 34.35%.

JPM has been the topic of several recent research reports. Morgan Stanley raised their price target on JPMorgan Chase & Co. from $142.00 to $150.00 and gave the stock an “underweight” rating in a research report on Monday, March 8th. Barclays lifted their price objective on JPMorgan Chase & Co. from $172.00 to $187.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler lifted their price objective on JPMorgan Chase & Co. from $118.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 11th. DZ Bank reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Tuesday. Finally, Daiwa Capital Markets began coverage on JPMorgan Chase & Co. in a research report on Wednesday, January 6th. They issued an “outperform” rating and a $139.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $138.89.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, auto loan, and leasing services.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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