1248 Management LLC Invests $10.51 Million in JPMorgan Chase & Co. (NYSE:JPM)

1248 Management LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 43,852 shares of the financial services provider's stock, valued at approximately $10,512,000. JPMorgan Chase & Co. makes up 4.5% of 1248 Management LLC's holdings, making the stock its 5th biggest holding.

A number of other hedge funds have also recently bought and sold shares of JPM. Principal Financial Group Inc. boosted its holdings in JPMorgan Chase & Co. by 3.2% during the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider's stock worth $1,228,110,000 after buying an additional 182,648 shares during the last quarter. Invst LLC raised its position in shares of JPMorgan Chase & Co. by 1.4% in the 3rd quarter. Invst LLC now owns 15,033 shares of the financial services provider's stock valued at $3,170,000 after acquiring an additional 204 shares during the period. Passumpsic Savings Bank boosted its stake in JPMorgan Chase & Co. by 15.1% during the 3rd quarter. Passumpsic Savings Bank now owns 10,753 shares of the financial services provider's stock worth $2,267,000 after acquiring an additional 1,407 shares during the last quarter. SOA Wealth Advisors LLC. grew its holdings in JPMorgan Chase & Co. by 1.5% during the third quarter. SOA Wealth Advisors LLC. now owns 21,082 shares of the financial services provider's stock valued at $4,445,000 after purchasing an additional 311 shares during the period. Finally, Morse Asset Management Inc increased its stake in JPMorgan Chase & Co. by 234.4% in the third quarter. Morse Asset Management Inc now owns 7,226 shares of the financial services provider's stock valued at $1,524,000 after purchasing an additional 5,065 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Up 2.3 %

Shares of NYSE JPM traded up $5.67 during trading hours on Friday, hitting $252.56. The company's stock had a trading volume of 7,163,689 shares, compared to its average volume of 9,660,001. JPMorgan Chase & Co. has a 12 month low of $189.82 and a 12 month high of $280.25. The stock has a market cap of $702.87 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The business has a 50-day simple moving average of $238.97 and a 200-day simple moving average of $244.72.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, topping the consensus estimate of $4.63 by $0.44. The firm had revenue of $45.30 billion during the quarter, compared to analysts' expectations of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $4.44 EPS. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, April 4th. This is a positive change from JPMorgan Chase & Co.'s previous quarterly dividend of $1.25. JPMorgan Chase & Co.'s payout ratio is currently 27.49%.

Insider Buying and Selling

In other news, COO Jennifer Piepszak sold 4,273 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total value of $6,175,500.00. Following the completion of the transaction, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at approximately $32,947,774.62. This trade represents a 15.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,545 shares of company stock worth $19,149,144 in the last quarter. Corporate insiders own 0.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. StockNews.com upgraded shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods boosted their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a "market perform" rating in a research report on Thursday, January 16th. UBS Group upped their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Bank of America dropped their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Finally, Barclays upped their price objective on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Hold" and a consensus price target of $255.67.

JPMorgan Chase & Co. Company Profile

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.