Penobscot Wealth Management Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Penobscot Wealth Management increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.2% in the fourth quarter, Holdings Channel reports. The firm owned 1,422 shares of the financial services provider’s stock after acquiring an additional 44 shares during the period. Penobscot Wealth Management’s holdings in JPMorgan Chase & Co. were worth $341,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bowen Hanes & Co. Inc. boosted its holdings in JPMorgan Chase & Co. by 1.4% in the 4th quarter. Bowen Hanes & Co. Inc. now owns 264,210 shares of the financial services provider’s stock worth $63,334,000 after acquiring an additional 3,553 shares during the period. Achmea Investment Management B.V. lifted its position in shares of JPMorgan Chase & Co. by 8.6% during the fourth quarter. Achmea Investment Management B.V. now owns 305,687 shares of the financial services provider’s stock worth $73,276,000 after purchasing an additional 24,207 shares in the last quarter. Mascoma Wealth Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 7.4% in the fourth quarter. Mascoma Wealth Management LLC now owns 2,280 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 157 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in JPMorgan Chase & Co. by 56.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,825 shares of the financial services provider’s stock valued at $88,171,000 after purchasing an additional 133,139 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its holdings in JPMorgan Chase & Co. by 126.6% in the 4th quarter. Rakuten Securities Inc. now owns 1,645 shares of the financial services provider’s stock worth $394,000 after buying an additional 919 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods lifted their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Finally, Truist Financial increased their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $252.89.

JPMorgan Chase & Co. Trading Up 1.0 %

Shares of NYSE JPM opened at $241.49 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The company has a market cap of $675.24 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The stock’s 50 day simple moving average is $257.86 and its 200 day simple moving average is $239.22.

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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jennifer Piepszak sold 4,273 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at $14,698,459.65. This trade represents a 7.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,326 shares of company stock valued at $12,448,445. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Company Profile

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.