Core Wealth Partners LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Core Wealth Partners LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 6.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,359 shares of the financial services provider’s stock after acquiring an additional 540 shares during the period. JPMorgan Chase & Co. accounts for about 1.1% of Core Wealth Partners LLC’s investment portfolio, making the stock its 20th largest holding. Core Wealth Partners LLC’s holdings in JPMorgan Chase & Co. were worth $2,004,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. Midwest Capital Advisors LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Legacy Investment Solutions LLC bought a new position in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $45,000. Collier Financial purchased a new position in JPMorgan Chase & Co. during the 4th quarter valued at about $45,000. Lowe Wealth Advisors LLC boosted its stake in JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 51 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on JPM shares. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a research report on Friday, January 3rd. Finally, Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $245.66 on Tuesday. The firm has a fifty day simple moving average of $257.27 and a two-hundred day simple moving average of $241.05. The firm has a market cap of $686.89 billion, a PE ratio of 12.44, a P/E/G ratio of 2.83 and a beta of 1.10. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. The trade was a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at $42,737,529.04. This trade represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,848 shares of company stock worth $19,987,908 in the last quarter. Company insiders own 0.79% of the company’s stock.

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.