1248 Management LLC Acquires New Shares in JPMorgan Chase & Co. (NYSE:JPM)

1248 Management LLC purchased a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 43,852 shares of the financial services provider’s stock, valued at approximately $10,512,000. JPMorgan Chase & Co. makes up 4.5% of 1248 Management LLC’s investment portfolio, making the stock its 5th largest position.

A number of other large investors have also recently modified their holdings of the business. Principal Financial Group Inc. lifted its stake in shares of JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after buying an additional 182,648 shares in the last quarter. Invst LLC grew its holdings in JPMorgan Chase & Co. by 1.4% during the third quarter. Invst LLC now owns 15,033 shares of the financial services provider’s stock valued at $3,170,000 after purchasing an additional 204 shares during the period. Passumpsic Savings Bank lifted its position in shares of JPMorgan Chase & Co. by 15.1% during the 3rd quarter. Passumpsic Savings Bank now owns 10,753 shares of the financial services provider’s stock valued at $2,267,000 after buying an additional 1,407 shares in the last quarter. SOA Wealth Advisors LLC. boosted its position in shares of JPMorgan Chase & Co. by 1.5% in the third quarter. SOA Wealth Advisors LLC. now owns 21,082 shares of the financial services provider’s stock worth $4,445,000 after purchasing an additional 311 shares during the period. Finally, Morse Asset Management Inc increased its stake in JPMorgan Chase & Co. by 234.4% in the 3rd quarter. Morse Asset Management Inc now owns 7,226 shares of the financial services provider’s stock worth $1,524,000 after buying an additional 5,065 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on JPM. KGI Securities initiated coverage on JPMorgan Chase & Co. in a report on Sunday, April 13th. They set a “hold” rating for the company. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Evercore ISI decreased their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Truist Financial set a $261.00 price target on shares of JPMorgan Chase & Co. in a research report on Monday, April 14th. Finally, UBS Group increased their price target on shares of JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, April 17th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and an average target price of $255.67.

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred 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 transaction, the insider now owns 50,377 shares in the company, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares of the company’s stock, valued at $14,698,459.65. This represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 73,545 shares of company stock valued at $19,149,144. 0.47% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Performance

Shares of NYSE:JPM opened at $246.98 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 12 month low of $188.46 and a 12 month high of $280.25. The firm has a market capitalization of $687.33 billion, a PE ratio of 12.51, a P/E/G ratio of 2.83 and a beta of 1.01. The business has a 50-day moving average of $239.07 and a two-hundred day moving average of $244.37.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same period in the prior year, the company posted $4.44 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.49%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.