Independent Advisor Alliance Buys 6,571 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Independent Advisor Alliance raised its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 193,055 shares of the financial services provider’s stock after buying an additional 6,571 shares during the quarter. JPMorgan Chase & Co. comprises 1.2% of Independent Advisor Alliance’s portfolio, making the stock its 15th largest holding. Independent Advisor Alliance’s holdings in JPMorgan Chase & Co. were worth $32,839,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in JPM. Fifth Third Bancorp raised its stake in JPMorgan Chase & Co. by 1.2% in the third quarter. Fifth Third Bancorp now owns 2,293,455 shares of the financial services provider’s stock worth $332,597,000 after buying an additional 28,071 shares in the last quarter. Cook Wealth Management Group LLC raised its stake in JPMorgan Chase & Co. by 14.2% in the 3rd quarter. Cook Wealth Management Group LLC now owns 3,223 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 400 shares during the last quarter. Asio Capital LLC lifted its position in JPMorgan Chase & Co. by 7.1% during the 3rd quarter. Asio Capital LLC now owns 8,673 shares of the financial services provider’s stock worth $1,258,000 after acquiring an additional 573 shares during the period. Peregrine Asset Advisers Inc. purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $845,000. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of JPMorgan Chase & Co. by 0.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 91,066 shares of the financial services provider’s stock valued at $13,206,000 after purchasing an additional 337 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Oppenheimer reduced their target price 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. Evercore ISI upped their price target on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Piper Sandler upped their target price on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group raised their price objective on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a report on Tuesday. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.10.

Check Out Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $199.58 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The company has a market cap of $573.13 billion, a PE ratio of 12.05, a P/E/G ratio of 2.40 and a beta of 1.13. The company’s fifty day simple moving average is $194.19 and its 200-day simple moving average is $177.38. JPMorgan Chase & Co. has a 52 week low of $134.40 and a 52 week high of $205.88.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion during the quarter, compared to the consensus estimate of $40.90 billion. As a group, equities research analysts anticipate that JPMorgan Chase & Co. will post 16.28 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.30%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Insiders Place Their Bets

In other news, insider Lori A. Beer sold 5,298 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.64, for a total transaction of $1,062,990.72. Following the sale, the insider now owns 46,375 shares in the company, valued at $9,304,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.74, for a total transaction of $716,340.80. Following the sale, the insider now directly owns 44,996 shares in the company, valued at approximately $8,222,569.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lori A. Beer sold 5,298 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.64, for a total value of $1,062,990.72. Following the completion of the transaction, the insider now directly owns 46,375 shares in the company, valued at $9,304,680. The disclosure for this sale can be found here. Insiders sold a total of 1,081,127 shares of company stock worth $198,695,364 in the last 90 days. 0.79% of the stock is owned by company insiders.

About JPMorgan Chase & Co.

(Free Report)

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.

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Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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