Prosperity Wealth Management Inc. Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Prosperity Wealth Management Inc. lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,425 shares of the financial services provider’s stock after acquiring an additional 45 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $821,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after buying an additional 182,648 shares in the last quarter. United Bank increased its holdings in JPMorgan Chase & Co. by 2.5% during the 3rd quarter. United Bank now owns 25,354 shares of the financial services provider’s stock valued at $5,346,000 after acquiring an additional 614 shares in the last quarter. Intellectus Partners LLC raised its position in JPMorgan Chase & Co. by 2.6% during the third quarter. Intellectus Partners LLC now owns 19,767 shares of the financial services provider’s stock worth $4,168,000 after acquiring an additional 500 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of JPMorgan Chase & Co. by 6.3% in the third quarter. CIBC Asset Management Inc now owns 498,375 shares of the financial services provider’s stock valued at $105,012,000 after purchasing an additional 29,470 shares during the last quarter. Finally, First Business Financial Services Inc. increased its stake in shares of JPMorgan Chase & Co. by 2.4% during the 3rd quarter. First Business Financial Services Inc. now owns 30,907 shares of the financial services provider’s stock worth $6,517,000 after purchasing an additional 712 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.8 %

NYSE JPM opened at $239.21 on Thursday. The firm has a market capitalization of $668.84 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 2.83 and a beta of 1.10. 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 $179.20 and a one year high of $280.25. The company’s 50 day moving average price is $257.92 and its 200 day moving average price is $239.11.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 EPS. On average, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.34%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.33%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now owns 54,469 shares in the company, valued at $14,698,459.65. The trade was a 7.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock valued at $12,448,445 in the last quarter. Insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on JPM. Barclays upped their target price on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. UBS Group upped their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Finally, Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price target for the company in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $252.89.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.