Independent Advisor Alliance Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Independent Advisor Alliance raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 181,446 shares of the financial services provider’s stock after purchasing an additional 11,127 shares during the quarter. Independent Advisor Alliance’s holdings in JPMorgan Chase & Co. were worth $43,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Midwest Capital Advisors LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $43,000. Collier Financial bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $45,000. Lowe Wealth Advisors LLC lifted its position in JPMorgan Chase & Co. by 34.0% during the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. Kieckhefer Group LLC bought a new stake in JPMorgan Chase & Co. during the fourth quarter valued at approximately $50,000. Finally, Legacy Investment Solutions LLC bought a new stake in JPMorgan Chase & Co. during the third quarter valued at approximately $45,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Up 0.5 %

Shares of JPMorgan Chase & Co. stock opened at $235.00 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a market cap of $657.08 billion, a P/E ratio of 11.90, a PEG ratio of 2.83 and a beta of 1.10. The company’s fifty day simple moving average is $257.99 and its two-hundred day simple moving average is $239.11. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the prior year, the business earned $3.04 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.38%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock worth $12,448,445 in the last quarter. Company insiders own 0.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on JPM shares. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. UBS Group boosted their price objective on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, Oppenheimer lowered shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average target price of $252.89.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.