Provence Wealth Management Group Purchases 1,585 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Provence Wealth Management Group boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 19.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,699 shares of the financial services provider’s stock after purchasing an additional 1,585 shares during the period. JPMorgan Chase & Co. comprises about 0.9% of Provence Wealth Management Group’s investment portfolio, making the stock its 29th biggest position. Provence Wealth Management Group’s holdings in JPMorgan Chase & Co. were worth $1,650,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Etfidea LLC grew its position in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock worth $329,000 after buying an additional 100 shares during the period. TKG Advisors LLC grew its holdings in JPMorgan Chase & Co. by 97.6% during the third quarter. TKG Advisors LLC now owns 13,205 shares of the financial services provider’s stock valued at $1,915,000 after purchasing an additional 6,521 shares during the period. Sutton Place Investors LLC grew its holdings in JPMorgan Chase & Co. by 179.5% during the fourth quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock valued at $2,228,000 after purchasing an additional 8,412 shares during the period. Alley Investment Management Company LLC boosted its holdings in shares of JPMorgan Chase & Co. by 0.4% in the third quarter. Alley Investment Management Company LLC now owns 126,913 shares of the financial services provider’s stock valued at $18,405,000 after buying an additional 530 shares during the period. Finally, Allen Investment Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 15.8% in the third quarter. Allen Investment Management LLC now owns 174,738 shares of the financial services provider’s stock valued at $25,341,000 after buying an additional 23,894 shares during the period. 71.55% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the transaction, the insider now owns 217,351 shares in the company, valued at approximately $42,087,847.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Jennifer Piepszak sold 1,648 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total transaction of $294,926.08. Following the completion of the sale, the chief executive officer now owns 32,819 shares of the company’s stock, valued at approximately $5,873,288.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, the insider now directly owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,063,506 shares of company stock worth $195,024,605. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Stock Up 1.0 %

Shares of NYSE JPM opened at $197.53 on Friday. The company has a 50 day simple moving average of $191.97 and a 200 day simple moving average of $173.32. The firm has a market cap of $567.24 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 2.38 and a beta of 1.13. JPMorgan Chase & Co. has a 1 year low of $133.13 and a 1 year high of $200.94. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. On average, research analysts forecast that JPMorgan Chase & Co. will post 15.98 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JPM. UBS Group reduced their price target on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Oppenheimer cut their price objective on shares of 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. The Goldman Sachs Group reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Thursday, February 1st. Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $192.05.

JPMorgan Chase & Co. Company 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.