JPMorgan Chase & Co. (NYSE:JPM) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,055 shares of the financial services provider’s stock after purchasing an additional 6,571 shares during the quarter. JPMorgan Chase & Co. accounts for approximately 1.2% of Independent Advisor Alliance’s portfolio, making the stock its 15th largest holding. Independent Advisor Alliance’s holdings in JPMorgan Chase & Co. were worth $32,839,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its position in shares of JPMorgan Chase & Co. by 0.3% in the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after buying an additional 201,441 shares during the period. FMR LLC lifted its position 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 worth $7,166,546,000 after purchasing an additional 606,382 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of JPMorgan Chase & Co. by 12.2% in 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. Northern Trust Corp increased its stake in JPMorgan Chase & Co. by 2.7% during the 3rd quarter. Northern Trust Corp now owns 33,089,310 shares of the financial services provider’s stock worth $4,798,612,000 after buying an additional 871,091 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in JPMorgan Chase & Co. by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock worth $3,442,313,000 after buying an additional 457,184 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

JPM has been the topic of several recent analyst reports. Morgan Stanley cut their price target on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wells Fargo & Company upped their price target on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Royal Bank of Canada reissued an “outperform” rating and set a $211.00 price objective on shares of JPMorgan Chase & Co. in a report on Tuesday. UBS Group increased their price target on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Evercore ISI boosted their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

Insider Activity

In related news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total value of $984,853.04. Following the completion of the sale, the insider now owns 217,351 shares in the company, valued at $42,087,847.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Elena A. Korablina sold 21,829 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $190.91, for a total value of $4,167,374.39. Following the completion of the sale, the insider now owns 6,484 shares of the company’s stock, valued at $1,237,860.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the transaction, the insider now owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,081,127 shares of company stock valued at $198,695,364. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM opened at $199.58 on Wednesday. The stock has a market capitalization of $573.13 billion, a P/E ratio of 12.05, a P/E/G ratio of 2.40 and a beta of 1.13. The business has a 50-day moving average of $194.19 and a two-hundred day moving average of $177.38. JPMorgan Chase & Co. has a fifty-two week low of $134.40 and a fifty-two week high of $205.88. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. On average, equities research analysts predict that JPMorgan Chase & Co. will post 16.28 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 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 2.30%. 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.