Phillips Financial Management LLC Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Phillips Financial Management LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,100 shares of the financial services provider’s stock after buying an additional 188 shares during the quarter. Phillips Financial Management LLC’s holdings in JPMorgan Chase & Co. were worth $3,859,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $43,000. Collier Financial purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $45,000. Lowe Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. by 34.0% during the 4th quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 51 shares during the period. Kieckhefer Group LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $50,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter worth $45,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of a number of recent analyst reports. UBS Group increased their price target on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Barclays increased their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Keefe, Bruyette & Woods lifted their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Truist Financial upped their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Price Performance

JPM opened at $241.49 on Friday. The company has a fifty day simple moving average of $257.86 and a 200 day simple moving average of $239.22. The firm has a market cap of $675.24 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

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

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. 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 transaction of $337,612.50. Following the completion of the transaction, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the transaction, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,326 shares of company stock valued at $12,448,445. Corporate insiders own 0.79% of the company’s stock.

About JPMorgan Chase & Co.

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.