New Millennium Group LLC Boosts Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

New Millennium Group LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 2,453.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,092 shares of the financial services provider’s stock after purchasing an additional 8,736 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.4% of New Millennium Group LLC’s portfolio, making the stock its 23rd largest position. New Millennium Group LLC’s holdings in JPMorgan Chase & Co. were worth $1,547,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Macroview Investment Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 7,833.3% during the third quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 235 shares during the period. Briaud Financial Planning Inc bought a new position in JPMorgan Chase & Co. in the third quarter worth about $40,000. FSC Wealth Advisors LLC raised its stake in JPMorgan Chase & Co. by 290.9% in the third quarter. FSC Wealth Advisors LLC now owns 387 shares of the financial services provider’s stock worth $56,000 after buying an additional 288 shares in the last quarter. Legacy Financial Group LLC bought a new position in JPMorgan Chase & Co. in the third quarter worth about $58,000. Finally, Robbins Farley raised its stake in JPMorgan Chase & Co. by 29.5% in the third quarter. Robbins Farley now owns 421 shares of the financial services provider’s stock worth $61,000 after buying an additional 96 shares in the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $199.52 on Thursday. The business has a 50-day moving average price of $181.58 and a 200-day moving average price of $163.37. JPMorgan Chase & Co. has a twelve month low of $126.22 and a twelve month high of $200.48. The firm has a market cap of $574.69 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.14. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, January 12th. The financial services provider reported $3.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.69). JPMorgan Chase & Co. had a net margin of 20.70% and a return on equity of 17.80%. The company had revenue of $38.57 billion for the quarter, compared to analysts’ expectations of $39.73 billion. During the same quarter last year, the company earned $3.57 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts predict that JPMorgan Chase & Co. will post 15.84 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 2.31%. JPMorgan Chase & Co.’s dividend payout ratio is 28.36%.

Analyst Ratings Changes

A number of research firms recently issued reports on JPM. The Goldman Sachs Group reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, February 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $185.00 price target on shares of JPMorgan Chase & Co. in a research note on Wednesday, March 20th. Piper Sandler increased their price target on shares of JPMorgan Chase & Co. from $190.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Bank of America raised their target price on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and raised their target price for the company from $140.00 to $190.00 in a research note on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $181.63.

Insider Transactions at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 3,368 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total value of $561,546.64. Following the sale, the insider now directly owns 205,461 shares in the company, valued at $34,256,512.53. The sale was disclosed in a document filed with the SEC, which is available at this link. In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 3,368 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $166.73, for a total transaction of $561,546.64. Following the transaction, the insider now directly owns 205,461 shares in the company, valued at approximately $34,256,512.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $294,926.08. Following the transaction, the chief executive officer now owns 32,819 shares in the company, valued at $5,873,288.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 849,303 shares of company stock worth $155,107,447. 0.79% of the stock is currently owned by company insiders.

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.