Wallace Capital Management Inc. Purchases 262 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Wallace Capital Management Inc. raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,495 shares of the financial services provider’s stock after buying an additional 262 shares during the period. Wallace Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $598,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of JPM. DDD Partners LLC boosted its stake in JPMorgan Chase & Co. by 2.8% in the fourth quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock valued at $339,000 after acquiring an additional 38 shares in the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 38 shares during the last quarter. Rappaport Reiches Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 3.8% in the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 39 shares in the last quarter. Yoder Wealth Management Inc. grew its stake in JPMorgan Chase & Co. by 2.8% during the 4th quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after buying an additional 39 shares during the last quarter. Finally, Almanack Investment Partners LLC. increased its position in JPMorgan Chase & Co. by 0.8% during the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock valued at $1,233,000 after buying an additional 39 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $264.60 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $190.88 and a 52-week high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market cap of $735.35 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.07. The business has a 50-day simple moving average of $241.45 and a 200-day simple moving average of $247.55.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same period in the previous year, the company posted $4.44 earnings per share. JPMorgan Chase & Co.’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current 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 paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.49%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on JPM. Cowen initiated coverage on JPMorgan Chase & Co. in a report on Wednesday, May 14th. They issued a “buy” rating for the company. UBS Group lifted 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. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a “buy” rating and a $305.00 target price on the stock. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Finally, Bank of America lowered their price objective on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.26.

Insider Buying and Selling

In other news, Director Linda Bammann sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total transaction of $2,375,000.00. Following the completion of the transaction, the director now directly owns 91,539 shares of the company’s stock, valued at $22,884,750. This represents a 9.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total value of $1,153,069.05. Following the transaction, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,188 shares of company stock valued at $33,095,363. Corporate insiders own 0.47% 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.