Wealthedge Investment Advisors LLC Acquires New Position in JPMorgan Chase & Co. (NYSE:JPM)

Wealthedge Investment Advisors LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,992 shares of the financial services provider’s stock, valued at approximately $717,000.

A number of other hedge funds have also recently modified their holdings of JPM. JPMorgan Chase & Co. grew its holdings in shares of JPMorgan Chase & Co. by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 shares during the period. Capital & Planning LLC grew its holdings in shares of JPMorgan Chase & Co. by 13.3% in the fourth quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 276 shares during the period. D.B. Root & Company LLC grew its holdings in shares of JPMorgan Chase & Co. by 6.0% in the fourth quarter. D.B. Root & Company LLC now owns 3,221 shares of the financial services provider’s stock valued at $772,000 after purchasing an additional 182 shares during the period. MinichMacGregor Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 13.2% in the fourth quarter. MinichMacGregor Wealth Management LLC now owns 5,307 shares of the financial services provider’s stock valued at $1,272,000 after purchasing an additional 619 shares during the period. Finally, Peterson Wealth Advisors LLC grew its holdings in shares of JPMorgan Chase & Co. by 4.9% in the fourth quarter. Peterson Wealth Advisors LLC now owns 1,891 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on JPM. Truist Financial set a $270.00 target price on shares of JPMorgan Chase & Co. in a research note on Friday. Robert W. Baird increased their target price on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. TD Cowen began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, May 15th. They set a “buy” rating and a $305.00 target price for the company. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Finally, TD Securities increased their target price on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and an average target price of $266.65.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the sale, the chief executive officer now owns 133,381 shares of the company’s stock, valued at $32,947,774.62. This trade represents a 15.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer now directly owns 18,017 shares in the company, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,594 shares of company stock valued at $23,991,061 over the last 90 days. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 1.7%

Shares of JPM opened at $265.12 on Wednesday. The stock has a market capitalization of $736.79 billion, a PE ratio of 13.43, a P/E/G ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 1 year low of $190.88 and a 1 year 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. The company’s 50-day simple moving average is $244.84 and its 200-day simple moving average is $248.69.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The business 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 company earned $4.44 earnings per share. Analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued 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 2.11%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

About JPMorgan Chase & Co.

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.