Meritage Portfolio Management Buys 843 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Meritage Portfolio Management lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,320 shares of the financial services provider’s stock after acquiring an additional 843 shares during the period. Meritage Portfolio Management’s holdings in JPMorgan Chase & Co. were worth $10,260,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Etfidea LLC lifted its stake in shares of JPMorgan Chase & Co. by 5.4% in the fourth quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after buying an additional 100 shares during the period. TKG Advisors LLC raised its position in JPMorgan Chase & Co. by 97.6% in the third quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock worth $1,915,000 after purchasing an additional 6,521 shares in the last quarter. Sutton Place Investors LLC raised its position in JPMorgan Chase & Co. by 179.5% in the fourth quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock worth $2,228,000 after purchasing an additional 8,412 shares in the last quarter. Alley Investment Management Company LLC raised its position in JPMorgan Chase & Co. by 0.4% in the third quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock worth $18,405,000 after purchasing an additional 530 shares in the last quarter. Finally, Allen Investment Management LLC raised its position in JPMorgan Chase & Co. by 15.8% in the third quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock worth $25,341,000 after purchasing an additional 23,894 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on JPM shares. Keefe, Bruyette & Woods increased their price target on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a research report on Wednesday, March 20th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Piper Sandler dropped their price target on shares of JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Finally, Oppenheimer dropped their price objective on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.05.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,030 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the sale, the general counsel now directly owns 59,456 shares of the company’s stock, valued at $10,864,394.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Vice Chairman Peter Scher sold 1,810 shares of JPMorgan Chase & Co. stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $323,917.60. Following the transaction, the insider now directly owns 44,956 shares of the company’s stock, valued at $8,045,325.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Stacey Friedman sold 6,030 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the transaction, the general counsel now directly owns 59,456 shares in the company, valued at $10,864,394.88. The disclosure for this sale can be found here. Insiders have sold 1,020,696 shares of company stock valued at $186,794,151 over the last three months. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Price Performance

JPM opened at $191.86 on Thursday. JPMorgan Chase & Co. has a one year low of $131.81 and a one year high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.91. The company’s 50 day simple moving average is $191.10 and its 200-day simple moving average is $171.70. The stock has a market capitalization of $551.04 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were paid a dividend of $1.15 per share. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is 27.78%.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.