3,935 Shares in JPMorgan Chase & Co. (NYSE:JPM) Bought by Challenger Wealth Management

Challenger Wealth Management acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,935 shares of the financial services provider's stock, valued at approximately $943,000. JPMorgan Chase & Co. makes up approximately 0.8% of Challenger Wealth Management's investment portfolio, making the stock its 26th largest position.

A number of other hedge funds have also modified their holdings of JPM. JPMorgan Chase & Co. increased its stake in shares of JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider's stock worth $938,491,000 after purchasing an additional 319,730 shares in the last quarter. Capital & Planning LLC increased its stake in shares of JPMorgan Chase & Co. by 13.3% during the 4th quarter. Capital & Planning LLC now owns 2,357 shares of the financial services provider's stock worth $565,000 after purchasing an additional 276 shares in the last quarter. Atwood & Palmer Inc. increased its stake in shares of JPMorgan Chase & Co. by 1.1% during the 4th quarter. Atwood & Palmer Inc. now owns 7,201 shares of the financial services provider's stock worth $1,726,000 after purchasing an additional 81 shares in the last quarter. Ballentine Partners LLC boosted its position in JPMorgan Chase & Co. by 4.5% during the fourth quarter. Ballentine Partners LLC now owns 90,763 shares of the financial services provider's stock worth $21,757,000 after acquiring an additional 3,910 shares during the last quarter. Finally, Rezny Wealth Management Inc. boosted its position in JPMorgan Chase & Co. by 3.6% during the fourth quarter. Rezny Wealth Management Inc. now owns 8,833 shares of the financial services provider's stock worth $2,117,000 after acquiring an additional 303 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In related news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now owns 49,127 shares of the company's stock, valued at $12,130,438.84. The trade was a 2.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total transaction of $1,755,811.68. Following the sale, the general counsel now directly owns 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,594 shares of company stock worth $23,991,061. 0.47% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

JPM has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of JPMorgan Chase & Co. from $285.00 to $284.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Royal Bank of Canada restated an "outperform" rating and set a $285.00 target price (up previously from $255.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. TD Cowen initiated coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, May 15th. They set a "buy" rating and a $305.00 target price on the stock. Piper Sandler restated an "overweight" rating and set a $295.00 target price (up previously from $260.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 20th. Finally, TD Securities raised their target price on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $266.65.

JPMorgan Chase & Co. Stock Up 0.1%

Shares of NYSE:JPM traded up $0.20 during midday trading on Thursday, hitting $263.69. 2,257,571 shares of the company's stock traded hands, compared to its average volume of 9,543,224. 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 company has a market cap of $732.82 billion, a PE ratio of 13.37, a P/E/G ratio of 2.83 and a beta of 1.07. The firm's fifty day moving average price is $245.28 and its two-hundred day moving average price is $248.79. JPMorgan Chase & Co. has a twelve month low of $190.88 and a twelve month high of $280.25.

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

JPMorgan Chase & Co. Dividend Announcement

The firm 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 dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 2.12%. JPMorgan Chase & Co.'s payout ratio is 27.49%.

About JPMorgan Chase & Co.

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.