Sterling Investment Management LLC Purchases New Stake in JPMorgan Chase & Co. (NYSE:JPM)

Sterling Investment Management LLC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,330 shares of the financial services provider’s stock, valued at approximately $226,000.

Several other hedge funds have also recently bought and sold shares of JPM. State Street Corp raised its stake in shares of JPMorgan Chase & Co. by 1.9% during the second quarter. State Street Corp now owns 126,243,947 shares of the financial services provider’s stock valued at $18,360,920,000 after purchasing an additional 2,384,901 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of JPMorgan Chase & Co. by 105,652.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock valued at $13,141,876,000 after purchasing an additional 97,907,897 shares during the period. Morgan Stanley raised its stake in shares of JPMorgan Chase & Co. by 0.3% during the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock valued at $9,127,754,000 after purchasing an additional 201,441 shares during the period. FMR LLC raised its stake in shares of JPMorgan Chase & Co. by 1.2% during the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock valued at $7,166,546,000 after purchasing an additional 606,382 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock valued at $6,151,997,000 after purchasing an additional 4,603,090 shares during the period. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 0.4 %

JPMorgan Chase & Co. stock opened at $200.29 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.91 and a current ratio of 0.91. JPMorgan Chase & Co. has a one year low of $126.22 and a one year high of $200.72. The company has a 50-day simple moving average of $182.22 and a 200-day simple moving average of $163.62. The firm has a market capitalization of $576.91 billion, a P/E ratio of 12.35, a P/E/G ratio of 2.49 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The firm had revenue of $38.57 billion for the quarter, compared to analyst estimates of $39.73 billion. During the same period in the previous year, the firm earned $3.57 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts expect that JPMorgan Chase & Co. will post 15.75 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be given a $1.15 dividend. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on JPM shares. Piper Sandler lifted their price objective on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Bank of America raised their price target on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Oppenheimer decreased their price target on shares of JPMorgan Chase & Co. from $238.00 to $219.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Finally, Morgan Stanley raised their price target on shares of JPMorgan Chase & Co. from $191.00 to $221.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.63.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, Vice Chairman Peter Scher sold 1,812 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.65, for a total transaction of $301,969.80. Following the transaction, the insider now directly owns 46,766 shares of the company’s stock, valued at $7,793,553.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Vice Chairman Peter Scher sold 1,812 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $166.65, for a total value of $301,969.80. Following the completion of the transaction, the insider now owns 46,766 shares in the company, valued at approximately $7,793,553.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer Piepszak sold 1,649 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $166.59, for a total transaction of $274,706.91. Following the sale, the chief executive officer now owns 34,467 shares in the company, valued at $5,741,857.53. The disclosure for this sale can be found here. Insiders have sold 849,303 shares of company stock valued at $155,107,447 in the last quarter. Corporate insiders own 0.79% of the company’s stock.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.