Challenger Wealth Management Takes $943,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Challenger Wealth Management purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,935 shares of the financial services provider’s stock, valued at approximately $943,000. JPMorgan Chase & Co. makes up 0.8% of Challenger Wealth Management’s portfolio, making the stock its 26th biggest holding.

Several other institutional investors also recently modified their holdings of JPM. Norges Bank purchased a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $8,310,884,000. Northern Trust Corp raised its stake in JPMorgan Chase & Co. by 15.4% during the fourth quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after acquiring an additional 3,489,314 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of JPMorgan Chase & Co. by 31.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock worth $2,561,256,000 after acquiring an additional 2,551,899 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of JPMorgan Chase & Co. by 16.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider’s stock worth $4,207,028,000 after acquiring an additional 2,465,572 shares during the last quarter. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on JPM shares. Bank of America cut their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, April 17th. Evercore ISI decreased their price objective on shares of JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. TD Securities upped their price objective on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley increased their target price on JPMorgan Chase & Co. from $235.00 to $236.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $266.20.

JPMorgan Chase & Co. Trading Up 0.0%

Shares of NYSE:JPM opened at $260.77 on Friday. The stock’s 50-day simple moving average is $243.88 and its two-hundred day simple moving average is $248.33. The stock has a market capitalization of $724.70 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. 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 data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.44 EPS. Analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.15%. JPMorgan Chase & Co.’s payout ratio is presently 27.49%.

Insider Transactions at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $246.92, for a total value of $308,650.00. Following the completion of the sale, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jennifer Piepszak sold 4,272 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.03, for a total value of $1,055,312.16. Following the completion of the transaction, the chief operating officer now directly owns 50,197 shares in the company, valued at $12,400,164.91. This trade represents a 7.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock worth $23,991,061 in the last 90 days. 0.47% of the stock is currently owned by insiders.

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.