Howard Wealth Management LLC Acquires New Position in JPMorgan Chase & Co. (NYSE:JPM)

Howard Wealth Management LLC purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 3,022 shares of the financial services provider’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of JPM. Price T Rowe Associates Inc. MD grew its stake in shares of JPMorgan Chase & Co. by 23.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 31,667,210 shares of the financial services provider’s stock worth $3,566,044,000 after purchasing an additional 5,978,393 shares during the period. Legal & General Group Plc grew its stake in shares of JPMorgan Chase & Co. by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 21,156,537 shares of the financial services provider’s stock worth $2,382,439,000 after purchasing an additional 847,094 shares during the period. Franklin Resources Inc. grew its stake in shares of JPMorgan Chase & Co. by 21.1% during the 2nd quarter. Franklin Resources Inc. now owns 19,739,048 shares of the financial services provider’s stock worth $2,222,815,000 after purchasing an additional 3,435,522 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of JPMorgan Chase & Co. by 4.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,607,661 shares of the financial services provider’s stock worth $2,536,598,000 after purchasing an additional 805,196 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of JPMorgan Chase & Co. by 3.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,780,611 shares of the financial services provider’s stock worth $988,785,000 after purchasing an additional 259,671 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Mellody L. Hobson acquired 375 shares of the business’s stock in a transaction that occurred on Thursday, January 19th. The stock was purchased at an average cost of $134.53 per share, with a total value of $50,448.75. Following the transaction, the director now owns 22,040 shares of the company’s stock, valued at $2,965,041.20. The transaction was disclosed in a filing with the SEC, which is available at this link. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 23,148 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $140.31, for a total value of $3,247,895.88. Following the completion of the transaction, the general counsel now directly owns 48,311 shares of the company’s stock, valued at approximately $6,778,516.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mellody L. Hobson bought 375 shares of the company’s stock in a transaction on Thursday, January 19th. The stock was purchased at an average cost of $134.53 per share, with a total value of $50,448.75. Following the completion of the transaction, the director now owns 22,040 shares in the company, valued at $2,965,041.20. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 46,336 shares of company stock valued at $6,372,156. 0.79% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on JPM. Deutsche Bank Aktiengesellschaft cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $155.00 to $145.00 in a research note on Friday, January 6th. Barclays increased their target price on JPMorgan Chase & Co. from $162.00 to $189.00 and gave the company an “overweight” rating in a research report on Tuesday, January 3rd. Credit Suisse Group set a $155.00 target price on JPMorgan Chase & Co. in a research report on Tuesday, January 17th. BMO Capital Markets increased their target price on JPMorgan Chase & Co. from $149.00 to $158.00 and gave the company a “market perform” rating in a research report on Monday, October 17th. Finally, Citigroup increased their target price on JPMorgan Chase & Co. from $150.00 to $165.00 in a research report on Tuesday, January 17th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.89.

JPMorgan Chase & Co. Stock Up 0.2 %

NYSE JPM opened at $135.08 on Friday. JPMorgan Chase & Co. has a 52 week low of $101.28 and a 52 week high of $159.03. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.12. The business’s fifty day simple moving average is $134.60 and its 200-day simple moving average is $122.72. The firm has a market cap of $396.22 billion, a PE ratio of 11.18, a P/E/G ratio of 2.23 and a beta of 1.13.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last posted its quarterly earnings results on Friday, January 13th. The financial services provider reported $3.57 EPS for the quarter, topping the consensus estimate of $3.11 by $0.46. The business had revenue of $34.55 billion for the quarter, compared to analyst estimates of $34.23 billion. JPMorgan Chase & Co. had a return on equity of 14.68% and a net margin of 24.34%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.33 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 12.81 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, January 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, January 5th. JPMorgan Chase & Co.’s payout ratio is 33.11%.

About JPMorgan Chase & Co.

(Get Rating)

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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

Featured Stories

Want to see what other hedge funds are holding JPM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for JPMorgan Chase & Co. (NYSE:JPMGet Rating).

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

Receive News & Ratings for JPMorgan Chase & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com's FREE daily email newsletter.