Spire Wealth Management Raises Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Spire Wealth Management boosted its position in JPMorgan Chase & Co. (NYSE:JPM) by 4.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 99,162 shares of the financial services provider's stock after acquiring an additional 4,102 shares during the period. JPMorgan Chase & Co. comprises approximately 0.8% of Spire Wealth Management's holdings, making the stock its 24th biggest holding. Spire Wealth Management's holdings in JPMorgan Chase & Co. were worth $24,324,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of JPM. Fourth Dimension Wealth LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $471,000. Disciplined Investments LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth about $217,000. LGT Group Foundation grew its holdings in JPMorgan Chase & Co. by 2.8% in the 4th quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider's stock worth $126,040,000 after buying an additional 14,300 shares in the last quarter. Kinsale Capital Group Inc. raised its position in shares of JPMorgan Chase & Co. by 11.1% during the 4th quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider's stock worth $10,483,000 after buying an additional 4,375 shares in the last quarter. Finally, Jag Capital Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 10.5% in the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider's stock valued at $353,000 after buying an additional 140 shares during the period. Institutional investors and hedge funds own 71.55% of the company's stock.

Insider Activity

In other news, CFO Jeremy Barnum sold 40,014 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the sale, the chief financial officer now directly owns 18,017 shares of the company's stock, valued at approximately $4,518,123.09. This represents a 68.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the business'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 transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,200 shares of company stock worth $18,060,015. Insiders own 0.47% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on JPM shares. Baird R W lowered JPMorgan Chase & Co. from a "hold" rating to a "strong sell" rating in a research report on Friday. UBS Group upped their price target on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, April 17th. Truist Financial lifted their price target on JPMorgan Chase & Co. from $270.00 to $280.00 and gave the stock a "hold" rating in a research report on Monday, June 2nd. Wall Street Zen raised JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. Finally, Bank of America boosted their price target on shares of JPMorgan Chase & Co. from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Hold" and an average price target of $273.15.

JPMorgan Chase & Co. Stock Down 0.5%

Shares of JPMorgan Chase & Co. stock opened at $287.31 on Monday. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $289.41. The business's 50 day simple moving average is $261.55 and its 200 day simple moving average is $252.90. The firm has a market cap of $798.45 billion, a PE ratio of 14.10, a P/E/G ratio of 2.67 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.89 and a current ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 16.88% and a net margin of 21.21%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.44 EPS. On average, analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced 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. This represents a $5.60 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, July 3rd. JPMorgan Chase & Co.'s payout ratio is 27.49%.

JPMorgan Chase & Co. 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.

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