Palacios Wealth Management LLC Takes $583,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Palacios Wealth Management LLC bought a new position in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,332 shares of the financial services provider’s stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in JPM. Geode Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after purchasing an additional 505,830 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 31.7% during the third quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock worth $3,539,132,000 after purchasing an additional 4,043,841 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of JPMorgan Chase & Co. by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after purchasing an additional 302,592 shares during the period. Franklin Resources Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 7.2% during the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after purchasing an additional 1,016,289 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of JPMorgan Chase & Co. during the third quarter worth approximately $1,888,088,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 1,250 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was 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 approximately $14,698,459.65. The trade was a 7.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,326 shares of company stock worth $12,448,445. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 1.0 %

NYSE:JPM opened at $264.14 on Friday. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The firm has a market cap of $738.56 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.83 and a beta of 1.12. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company’s 50 day moving average is $256.12 and its 200-day moving average is $235.20.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company posted $3.04 earnings per share. Equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, January 6th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, January 6th. This represents a $5.00 annualized dividend and a dividend yield of 1.89%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Analysts Set New Price Targets

Several research firms recently commented on JPM. 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. Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Baird R W lowered shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Truist Financial raised their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $251.78.

JPMorgan Chase & Co. Company 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.