Pacific Point Advisors LLC Invests $916,000 in JPMorgan Chase & Co. (NYSE:JPM)

Pacific Point Advisors LLC purchased 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 filing with the Securities and Exchange Commission. The firm purchased 3,823 shares of the financial services provider's stock, valued at approximately $916,000.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in JPMorgan Chase & Co. in the 4th quarter worth $8,310,884,000. Northern Trust Corp boosted its position in JPMorgan Chase & Co. by 15.4% in the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider's stock valued at $8,113,147,000 after buying an additional 4,515,147 shares during the period. Proficio Capital Partners LLC boosted its position in JPMorgan Chase & Co. by 34,259.3% in the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider's stock valued at $838,865,000 after buying an additional 3,489,314 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in JPMorgan Chase & Co. by 31.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider's stock valued at $2,561,256,000 after buying an additional 2,551,899 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in JPMorgan Chase & Co. by 16.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,550,491 shares of the financial services provider's stock valued at $4,207,028,000 after buying an additional 2,465,572 shares during the period. Institutional investors own 71.55% of the company's stock.

Insiders Place Their Bets

In other news, COO Jennifer Piepszak sold 4,272 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $247.03, for a total transaction of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares in the company, valued at $12,400,164.91. This trade represents a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the sale, the chief executive officer now directly owns 133,381 shares of the company's stock, valued at $32,947,774.62. The trade was a 15.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,594 shares of company stock valued at $23,991,061 in the last ninety days. Insiders own 0.47% of the company's stock.

Wall Street Analysts Forecast Growth

JPM has been the subject of a number of analyst reports. 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 increased their price objective 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. Royal Bank of Canada restated an "outperform" rating and set a $285.00 price target (up previously from $255.00) on shares of JPMorgan Chase & Co. in a research report on Tuesday. TD Securities increased their price objective on shares of JPMorgan Chase & Co. from $305.00 to $315.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Piper Sandler raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $295.00 and gave the stock an "overweight" rating in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $266.20.

JPMorgan Chase & Co. Stock Down 0.2%

Shares of JPMorgan Chase & Co. stock opened at $260.50 on Friday. The company has a market cap of $723.95 billion, a P/E ratio of 13.20, a PEG ratio of 2.83 and a beta of 1.07. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a one year low of $190.88 and a one year high of $280.25. The firm has a fifty day moving average of $243.37 and a two-hundred day moving average of $248.05.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.63 by $0.44. The business had revenue of $45.30 billion during the quarter, compared to the consensus estimate 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 revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.44 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be paid 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 2.15%. JPMorgan Chase & Co.'s dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.