Mission Wealth Management LP Has $21.65 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Mission Wealth Management LP boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 10.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,270 shares of the financial services provider’s stock after purchasing an additional 8,057 shares during the quarter. Mission Wealth Management LP’s holdings in JPMorgan Chase & Co. were worth $21,653,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Brown Miller Wealth Management LLC boosted its position in shares of JPMorgan Chase & Co. by 0.7% during the 1st quarter. Brown Miller Wealth Management LLC now owns 45,075 shares of the financial services provider’s stock worth $11,057,000 after purchasing an additional 304 shares in the last quarter. Cyndeo Wealth Partners LLC increased its position in JPMorgan Chase & Co. by 20.7% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 85,625 shares of the financial services provider’s stock valued at $21,004,000 after buying an additional 14,705 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in JPMorgan Chase & Co. by 19.9% during the 1st quarter. Hanson & Doremus Investment Management now owns 21,466 shares of the financial services provider’s stock worth $5,266,000 after buying an additional 3,560 shares during the period. Forefront Wealth Management Inc. boosted its holdings in JPMorgan Chase & Co. by 1.2% in the first quarter. Forefront Wealth Management Inc. now owns 9,777 shares of the financial services provider’s stock worth $2,398,000 after acquiring an additional 115 shares in the last quarter. Finally, Rebalance LLC grew its stake in JPMorgan Chase & Co. by 27.0% in the first quarter. Rebalance LLC now owns 1,940 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 413 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on JPM. UBS Group boosted their price objective on JPMorgan Chase & Co. from $277.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, April 17th. 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. Piper Sandler restated a “hold” rating on shares of JPMorgan Chase & Co. in a report on Monday, June 2nd. Cowen reaffirmed a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Finally, TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Wednesday, June 4th. Thirteen equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus price target of $269.65.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $269.35 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.23. The firm has a market cap of $748.55 billion, a PE ratio of 13.22, a P/E/G ratio of 2.74 and a beta of 1.08. The business has a 50 day moving average of $253.87 and a 200-day moving average of $250.84. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.88% and a net margin of 21.21%. The firm had revenue of $45.30 billion during the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the company earned $4.44 EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.08%. JPMorgan Chase & Co.’s payout ratio is currently 27.49%.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 6,128 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $262.47, for a total value of $1,608,416.16. Following the transaction, the chief operating officer now owns 62,455 shares in the company, valued at approximately $16,392,563.85. This represents a 8.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jeremy Barnum sold 40,014 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $250.77, for a total value of $10,034,310.78. Following the transaction, the chief financial officer now directly owns 18,017 shares of the company’s stock, valued at approximately $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,722 shares of company stock worth $25,599,477. Insiders own 0.47% 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. 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.