Sunbelt Securities Inc. Acquires 1,594 Shares of JPMorgan Chase & Co. (NYSE:JPM)
Sunbelt Securities Inc. increased its stake in JPMorgan Chase & Co. by 5.7% in Q4, acquiring an additional 1,594 shares, bringing its total to 29,349 shares valued at $7,024,000. Other institutional investors also raised their positions in JPM. Analysts have mixed ratings on the stock, with an average price target of $266.20. Recent insider sales included General Counsel Stacey Friedman and CEO Troy L. Rohrbaugh, who sold significant shares, reducing their ownership stakes.
Sunbelt Securities Inc. boosted its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,349 shares of the financial services provider's stock after purchasing an additional 1,594 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.6% of Sunbelt Securities Inc.'s portfolio, making the stock its 28th largest holding. Sunbelt Securities Inc.'s holdings in JPMorgan Chase & Co. were worth $7,024,000 at the end of the most recent quarter.
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A number of other institutional investors have also recently bought and sold shares of JPM. DDD Partners LLC raised its position in shares of JPMorgan Chase & Co. by 2.8% in the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider's stock worth $339,000 after purchasing an additional 38 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its stake in JPMorgan Chase & Co. by 1.5% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider's stock valued at $622,000 after purchasing an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC increased its stake in JPMorgan Chase & Co. by 3.8% during the 4th quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider's stock valued at $256,000 after purchasing an additional 39 shares in the last quarter. Yoder Wealth Management Inc. raised its holdings in JPMorgan Chase & Co. by 2.8% in the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider's stock worth $344,000 after buying an additional 39 shares during the last quarter. Finally, Almanack Investment Partners LLC. lifted its stake in shares of JPMorgan Chase & Co. by 0.8% in the fourth quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider's stock worth $1,233,000 after buying an additional 39 shares in the last quarter. Institutional investors own 71.55% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on JPM. Robert W. Baird raised their price target on shares of JPMorgan Chase & Co. from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday. Bank of America reduced their target price on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Baird R W raised JPMorgan Chase & Co. from a "strong sell" rating to a "hold" rating in a report on Friday, March 7th. Finally, TD Securities increased their price objective on JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a "buy" rating in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $266.20.
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Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 6,608 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the sale, the general counsel now owns 36,520 shares in the company, valued at $9,703,729.20. This represents a 15.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value of $6,175,500.00. Following the transaction, the chief executive officer now directly owns 133,381 shares in the company, valued at approximately $32,947,774.62. The trade was a 15.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,594 shares of company stock worth $23,991,061. Corporate insiders own 0.47% of the company's stock.
JPMorgan Chase & Co. Stock Performance
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JPM opened at $260.50 on Friday. The company's 50 day moving average is $243.37 and its 200 day moving average is $248.05. 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 $723.95 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 2.83 and a beta of 1.07. JPMorgan Chase & Co. has a 12-month low of $190.88 and a 12-month high of $280.25.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same period last year, the firm earned $4.44 earnings per share. The company's quarterly revenue was up 8.0% on a year-over-year basis. On average, equities research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.
JPMorgan Chase & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be issued a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 dividend on an annualized basis and a yield of 2.15%. JPMorgan Chase & Co.'s dividend payout ratio is currently 27.49%.
JPMorgan Chase & Co. Company Profile
(Free Report)JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.
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