Forza Wealth Management LLC Boosts Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Forza Wealth Management LLC increased its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,943 shares of the financial services provider’s stock after buying an additional 140 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.0% of Forza Wealth Management LLC’s investment portfolio, making the stock its 11th largest position. Forza Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $4,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in JPM. Fourth Dimension Wealth LLC purchased a new position in JPMorgan Chase & Co. during the fourth quarter valued at approximately $471,000. Crown Wealth Group LLC lifted its holdings in JPMorgan Chase & Co. by 5.4% during the first quarter. Crown Wealth Group LLC now owns 4,320 shares of the financial services provider’s stock valued at $1,060,000 after purchasing an additional 222 shares in the last quarter. Hidden Cove Wealth Management LLC lifted its holdings in JPMorgan Chase & Co. by 4.2% during the first quarter. Hidden Cove Wealth Management LLC now owns 2,758 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 112 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 6.4% during the first quarter. Aaron Wealth Advisors LLC now owns 20,191 shares of the financial services provider’s stock valued at $4,953,000 after purchasing an additional 1,218 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in JPMorgan Chase & Co. by 11.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,648 shares of the financial services provider’s stock valued at $3,838,000 after purchasing an additional 1,561 shares in the last quarter. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on JPM shares. TD Cowen started coverage on shares of JPMorgan Chase & Co. in a report on Thursday, May 15th. They set a “buy” rating and a $305.00 price target on the stock. Evercore ISI set a $298.00 price target on shares of JPMorgan Chase & Co. and gave the company an “outperform” rating in a report on Monday, July 7th. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, April 17th. KGI Securities assumed coverage on shares of JPMorgan Chase & Co. in a report on Sunday, April 13th. They issued a “hold” rating on the stock. Finally, Royal Bank Of Canada set a $305.00 target price on shares of JPMorgan Chase & Co. and gave the stock an “outperform” rating in a report on Monday, June 30th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $284.42.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, CFO Jeremy Barnum sold 40,014 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 18,017 shares of the company’s stock, valued at $4,518,123.09. This represents a 68.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jennifer Piepszak sold 6,128 shares of the stock in a transaction dated 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 sale, the chief operating officer directly owned 62,455 shares of the company’s stock, valued at approximately $16,392,563.85. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,200 shares of company stock valued at $18,060,015 in the last ninety days. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 0.8%

JPM stock opened at $286.39 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. JPMorgan Chase & Co. has a twelve month low of $190.90 and a twelve month high of $296.40. The stock has a market capitalization of $795.90 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 2.64 and a beta of 1.10. The firm’s fifty day simple moving average is $272.45 and its two-hundred day simple moving average is $257.02.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $6.12 earnings per share. As a group, analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 3rd will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.’s dividend payout ratio is currently 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.