Meritage Portfolio Management Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Meritage Portfolio Management grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 60,320 shares of the financial services provider’s stock after purchasing an additional 843 shares during the quarter. Meritage Portfolio Management’s holdings in JPMorgan Chase & Co. were worth $10,260,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Corbyn Investment Management Inc. MD purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth $229,000. Lyell Wealth Management LP raised its position in shares of JPMorgan Chase & Co. by 1.0% in the 4th quarter. Lyell Wealth Management LP now owns 86,483 shares of the financial services provider’s stock worth $14,711,000 after buying an additional 880 shares during the period. Disciplined Equity Management Inc. raised its position in shares of JPMorgan Chase & Co. by 35.0% in the 4th quarter. Disciplined Equity Management Inc. now owns 7,981 shares of the financial services provider’s stock worth $1,358,000 after buying an additional 2,068 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in shares of JPMorgan Chase & Co. by 4.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 64,940 shares of the financial services provider’s stock worth $11,046,000 after buying an additional 2,997 shares during the period. Finally, Magnolia Capital Advisors LLC raised its position in shares of JPMorgan Chase & Co. by 5.2% in the 4th quarter. Magnolia Capital Advisors LLC now owns 19,124 shares of the financial services provider’s stock worth $3,371,000 after buying an additional 945 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JPM. Wells Fargo & Company increased their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. BMO Capital Markets cut their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their price objective for the company from $140.00 to $190.00 in a research report on Tuesday, January 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods raised their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.05.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Jennifer Piepszak sold 1,648 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO James Dimon sold 821,778 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $150,163,493.94. Following the completion of the sale, the chief executive officer now directly owns 595,316 shares of the company’s stock, valued at $108,782,092.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jennifer Piepszak sold 1,648 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $294,926.08. Following the completion of the sale, the chief executive officer now directly owns 32,819 shares of the company’s stock, valued at $5,873,288.24. The disclosure for this sale can be found here. Insiders sold a total of 1,020,696 shares of company stock valued at $186,794,151 over the last three months. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Up 0.1 %

Shares of JPMorgan Chase & Co. stock opened at $191.86 on Thursday. The company has a market capitalization of $551.04 billion, a PE ratio of 11.59, a P/E/G ratio of 2.42 and a beta of 1.15. JPMorgan Chase & Co. has a 1-year low of $131.81 and a 1-year high of $200.94. The business has a 50-day moving average of $191.10 and a 200-day moving average of $171.70. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were issued a $1.15 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, April 4th. JPMorgan Chase & Co.’s payout ratio is currently 27.78%.

About JPMorgan Chase & Co.

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.