Provence Wealth Management Group Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Provence Wealth Management Group increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,699 shares of the financial services provider’s stock after purchasing an additional 1,585 shares during the quarter. JPMorgan Chase & Co. accounts for 0.9% of Provence Wealth Management Group’s holdings, making the stock its 29th biggest holding. Provence Wealth Management Group’s holdings in JPMorgan Chase & Co. were worth $1,650,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Legacy Financial Advisors Inc. increased its position in shares of JPMorgan Chase & Co. by 2.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 41,177 shares of the financial services provider’s stock valued at $7,004,000 after purchasing an additional 807 shares during the last quarter. Knuff & Co LLC grew its position in JPMorgan Chase & Co. by 10.0% in the 4th quarter. Knuff & Co LLC now owns 2,202 shares of the financial services provider’s stock valued at $375,000 after acquiring an additional 200 shares during the last quarter. Sapient Capital LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $63,798,000. Axxcess Wealth Management LLC grew its position in JPMorgan Chase & Co. by 19.1% in the 4th quarter. Axxcess Wealth Management LLC now owns 160,777 shares of the financial services provider’s stock valued at $27,348,000 after acquiring an additional 25,763 shares during the last quarter. Finally, Signature Resources Capital Management LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $83,000. Institutional investors own 71.55% of the company’s stock.

Insider Activity

In other news, insider Lori A. Beer sold 3,920 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now owns 64,783 shares in the company, valued at $12,656,006.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Jennifer Piepszak sold 1,648 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total transaction of $294,926.08. Following the transaction, the chief executive officer now owns 32,819 shares in the company, valued at $5,873,288.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now owns 64,783 shares in the company, valued at approximately $12,656,006.88. The disclosure for this sale can be found here. Insiders have sold a total of 1,063,506 shares of company stock worth $195,024,605 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Wells Fargo & Company upped their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Piper Sandler cut their price objective on 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. Oppenheimer cut their price objective on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Finally, Evercore ISI upped their target price on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $192.05.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $197.53 on Friday. The company has a market capitalization of $567.24 billion, a P/E ratio of 11.93, a P/E/G ratio of 2.38 and a beta of 1.13. The business’s 50 day moving average is $191.97 and its two-hundred day moving average is $173.32. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 12-month low of $133.13 and a 12-month high of $200.94.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Analysts expect that JPMorgan Chase & Co. will post 15.98 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 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.