Power Wealth Management LLC Invests $278,000 in JPMorgan Chase & Co. (NYSE:JPM)

Power Wealth Management LLC purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,636 shares of the financial services provider’s stock, valued at approximately $278,000.

A number of other hedge funds have also modified their holdings of JPM. Stone House Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 132.8% during the 4th quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 89 shares in the last quarter. Bare Financial Services Inc acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $35,000. Stuart Chaussee & Associates Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $40,000. Macroview Investment Management LLC lifted its stake in JPMorgan Chase & Co. by 7,833.3% during the 3rd quarter. Macroview Investment Management LLC now owns 238 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 235 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in JPMorgan Chase & Co. during the 4th quarter worth about $44,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Up 1.0 %

NYSE:JPM opened at $197.53 on Friday. The stock’s 50 day moving average price is $191.97 and its 200 day moving average price is $173.32. JPMorgan Chase & Co. has a 52-week low of $133.13 and a 52-week high of $200.94. The company has a market capitalization of $567.24 billion, a PE ratio of 11.93, a P/E/G ratio of 2.38 and a beta of 1.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share 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 company had revenue of $41.93 billion for the quarter, compared to the consensus estimate of $40.90 billion. On average, research analysts anticipate that JPMorgan Chase & Co. will post 15.98 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, April 5th were paid a $1.15 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.78%.

Analysts Set New Price Targets

Several research firms recently issued reports on JPM. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Piper Sandler reduced their price target on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday, April 15th. BMO Capital Markets reduced their price target on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research report on Monday, April 15th. Evercore ISI increased 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. Finally, Oppenheimer reduced their price target on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating on the stock in a research report on Monday, April 15th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.05.

Insider Activity

In other news, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the sale, the general counsel now directly owns 59,456 shares of the company’s stock, valued at approximately $10,864,394.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Vice Chairman Peter Scher sold 1,810 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $178.96, for a total value of $323,917.60. Following the completion of the sale, the insider now directly owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 6,030 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.73, for a total value of $1,101,861.90. Following the completion of the sale, the general counsel now directly owns 59,456 shares of the company’s stock, valued at $10,864,394.88. The disclosure for this sale can be found here. Insiders sold 1,063,506 shares of company stock valued at $195,024,605 in the last three months. 0.79% of the stock is currently owned by company insiders.

About JPMorgan Chase & Co.

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.