Alpine Bank Wealth Management acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,776 shares of the financial services provider's stock, valued at approximately $4,360,000. JPMorgan Chase & Co. makes up about 0.7% of Alpine Bank Wealth Management's investment portfolio, making the stock its 23rd biggest position.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital & Planning LLC lifted its position in JPMorgan Chase & Co. by 13.3% in the 4th quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider's stock valued at $565,000 after acquiring an additional 276 shares in the last quarter. Brighton Jones LLC lifted its position in JPMorgan Chase & Co. by 11.0% in the 4th quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock valued at $11,682,000 after acquiring an additional 4,841 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $66,088,000. SOA Wealth Advisors LLC. lifted its position in JPMorgan Chase & Co. by 1.2% in the 4th quarter. SOA Wealth Advisors LLC. now owns 21,337 shares of the financial services provider's stock valued at $5,115,000 after acquiring an additional 255 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG lifted its position in JPMorgan Chase & Co. by 0.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock valued at $46,068,000 after acquiring an additional 1,229 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. KGI Securities began coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a "hold" rating on the stock. Wall Street Zen raised shares of JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. UBS Group lifted 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 report on Thursday, April 17th. Baird R W cut shares of JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday. Finally, Truist Financial lifted their target price on shares of JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of "Hold" and a consensus target price of $273.15.
View Our Latest Report on JPMorgan Chase & Co.
Insiders Place Their Bets
In other news, CFO Jeremy Barnum sold 40,014 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the sale, the chief financial officer now directly owns 18,017 shares in the company, valued at $4,518,123.09. This trade represents a 68.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jennifer Piepszak sold 6,128 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total transaction of $1,608,416.16. Following the sale, the chief operating officer now owns 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,200 shares of company stock worth $18,060,015. Company insiders own 0.47% of the company's stock.
JPMorgan Chase & Co. Trading Down 0.5%
Shares of JPM stock opened at $287.31 on Monday. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $289.41. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm's 50 day moving average is $261.55 and its 200 day moving average is $252.90. The stock has a market capitalization of $798.45 billion, a P/E ratio of 14.10, a P/E/G ratio of 2.67 and a beta of 1.08.
JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion for the quarter, compared to analysts' expectations of $43.62 billion. During the same quarter last year, the company posted $4.44 earnings per share. The firm's quarterly revenue was up 8.0% on a year-over-year basis. Research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a $1.40 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 1.95%. JPMorgan Chase & Co.'s payout ratio is presently 27.49%.
About JPMorgan Chase & Co.
(
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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