Frontier Wealth Management LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 93.6% during the first quarter, Holdings Channel.com reports. The fund owned 77,149 shares of the financial services provider’s stock after buying an additional 37,303 shares during the period. JPMorgan Chase & Co. makes up about 1.1% of Frontier Wealth Management LLC’s portfolio, making the stock its 18th biggest position. Frontier Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $6,946,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of JPM. Capital World Investors grew its holdings in JPMorgan Chase & Co. by 1.9% during the 4th quarter. Capital World Investors now owns 82,845,612 shares of the financial services provider’s stock worth $11,548,674,000 after acquiring an additional 1,531,579 shares during the period. FMR LLC increased its holdings in JPMorgan Chase & Co. by 0.4% in the fourth quarter. FMR LLC now owns 55,512,219 shares of the financial services provider’s stock worth $7,738,402,000 after purchasing an additional 202,379 shares in the last quarter. Geode Capital Management LLC lifted its stake in JPMorgan Chase & Co. by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 44,411,768 shares of the financial services provider’s stock valued at $6,178,292,000 after buying an additional 595,401 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of JPMorgan Chase & Co. by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 31,592,855 shares of the financial services provider’s stock worth $2,844,306,000 after buying an additional 175,979 shares in the last quarter. Finally, Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $3,908,541,000. 73.01% of the stock is currently owned by institutional investors.
In related news, insider Ashley Bacon sold 13,027 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $91.12, for a total transaction of $1,187,020.24. Following the completion of the transaction, the insider now owns 137,243 shares in the company, valued at $12,505,582.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen B. Burke acquired 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average price of $87.99 per share, with a total value of $6,599,250.00. Following the acquisition, the director now directly owns 150,043 shares of the company’s stock, valued at approximately $13,202,283.57. The disclosure for this purchase can be found here. Company insiders own 0.78% of the company’s stock.
JPM opened at $89.47 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $76.91 and a fifty-two week high of $141.10. The firm has a market capitalization of $274.75 billion, a P/E ratio of 10.11, a PEG ratio of 3.51 and a beta of 1.20. The company’s 50-day moving average is $91.61 and its 200 day moving average is $118.08. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.89 and a quick ratio of 0.89.
JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, April 14th. The financial services provider reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.70 by ($1.92). The firm had revenue of $28.25 billion for the quarter, compared to the consensus estimate of $29.45 billion. JPMorgan Chase & Co. had a return on equity of 12.52% and a net margin of 21.61%. JPMorgan Chase & Co.’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.65 EPS. On average, equities research analysts expect that JPMorgan Chase & Co. will post 5.13 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.90 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $3.60 dividend on an annualized basis and a yield of 4.02%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 34.35%.
Several research analysts recently issued reports on JPM shares. Keefe, Bruyette & Woods raised shares of JPMorgan Chase & Co. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, April 1st. Wells Fargo & Co cut their price objective on shares of JPMorgan Chase & Co. from $140.00 to $125.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Piper Sandler decreased their target price on JPMorgan Chase & Co. from $149.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 3rd. Odeon Capital Group raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $105.75 price target on the stock in a research note on Wednesday. Finally, Citigroup reduced their price objective on JPMorgan Chase & Co. from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $109.75.
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 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, payment processing, auto loan, and leasing services.
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