WealthPlan Investment Management LLC Purchases 2,417 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• WealthPlan Investment Management LLC has increased its stake in JPMorgan Chase & Co. by 8.0%, now owning 32,444 shares valued at approximately $7.96 million.
• Insider transactions reveal that COO Jennifer Piepszak and General Counsel Stacey Friedman sold significant amounts of stock, indicating a combined total of 15,557 shares sold worth over $4.1 million in the last quarter.
• Analysts remain optimistic with a consensus target price of $288.68 for the stock, which has experienced a year-over-year revenue decline of 10.5% but reported $4.96 EPS, surpassing expectations.

WealthPlan Investment Management LLC lifted its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,444 shares of the financial services provider's stock after buying an additional 2,417 shares during the period. WealthPlan Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $7,959,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. Florida Financial Advisors LLC lifted its stake in JPMorgan Chase & Co. by 62.5% in the first quarter. Florida Financial Advisors LLC now owns 9,863 shares of the financial services provider's stock valued at $2,416,000 after purchasing an additional 3,792 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in JPMorgan Chase & Co. in the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC lifted its stake in JPMorgan Chase & Co. by 5.4% in the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider's stock valued at $1,060,000 after purchasing an additional 222 shares during the last quarter. Morse Asset Management Inc lifted its stake in JPMorgan Chase & Co. by 19.5% in the first quarter. Morse Asset Management Inc now owns 2,569 shares of the financial services provider's stock valued at $630,000 after purchasing an additional 420 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC lifted its stake in JPMorgan Chase & Co. by 4.2% in the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider's stock valued at $677,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 71.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group upped their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 17th. TD Securities reiterated a "buy" rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Morgan Stanley boosted their target price on shares of JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. Finally, Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of "Moderate Buy" and an average target price of $288.68.

Insider Activity at JPMorgan Chase & Co.

In related news, COO Jennifer Piepszak sold 6,128 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $262.47, for a total value of $1,608,416.16. Following the completion of the transaction, the chief operating officer directly owned 62,455 shares in the company, valued at $16,392,563.85. The trade was a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,608 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the general counsel owned 36,520 shares of the company's stock, valued at approximately $9,703,729.20. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,557 shares of company stock valued at $4,113,796 over the last quarter. Company insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Trading Up 1.2%

Shares of NYSE:JPM traded up $3.50 on Thursday, reaching $294.03. 4,452,366 shares of the company traded hands, compared to its average volume of 9,937,850. The business's 50-day simple moving average is $285.29 and its 200 day simple moving average is $263.25. JPMorgan Chase & Co. has a 52 week low of $200.61 and a 52 week high of $301.29. The stock has a market capitalization of $808.52 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.25.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same period last year, the firm earned $6.12 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities 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 was paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio (DPR) is presently 28.73%.

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.