Cetera Trust Company N.A Invests $3.36 Million in JPMorgan Chase & Co. (NYSE:JPM)

Cetera Trust Company N.A purchased a new position in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,766 shares of the financial services provider’s stock, valued at approximately $3,362,000. JPMorgan Chase & Co. makes up about 2.1% of Cetera Trust Company N.A’s investment portfolio, making the stock its 7th biggest holding.

Other hedge funds have also made changes to their positions in the company. Curbstone Financial Management Corp boosted its stake in shares of JPMorgan Chase & Co. by 0.3% in the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock valued at $4,070,000 after purchasing an additional 60 shares in the last quarter. Grey Street Capital LLC boosted its stake in shares of JPMorgan Chase & Co. by 0.9% in the 4th quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock valued at $1,190,000 after purchasing an additional 60 shares in the last quarter. Financial Management Network Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.8% in the 4th quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 61 shares in the last quarter. Sendero Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 1.1% in the 4th quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock valued at $988,000 after purchasing an additional 62 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock valued at $1,182,000 after purchasing an additional 64 shares in the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 0.1 %

JPM opened at $193.49 on Monday. JPMorgan Chase & Co. has a fifty-two week low of $131.81 and a fifty-two week high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $555.72 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.43 and a beta of 1.15. The company’s 50 day moving average price is $190.36 and its two-hundred day moving average price is $170.91.

JPMorgan Chase & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.38%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the sale, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the sale, the insider now directly owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Dimon sold 178,222 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the completion of the sale, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock valued at $186,794,151 in the last ninety days. 0.79% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Piper Sandler reduced their price target on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a report on Thursday, February 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 price objective on shares of JPMorgan Chase & Co. in a report on Wednesday, March 20th. Morgan Stanley cut their price objective on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, April 15th. Finally, Oppenheimer cut their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus price target of $192.05.

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.