Potomac Fund Management Inc. ADV Buys New Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Potomac Fund Management Inc. ADV purchased a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,825 shares of the financial services provider’s stock, valued at approximately $1,876,000. JPMorgan Chase & Co. comprises about 1.7% of Potomac Fund Management Inc. ADV’s holdings, making the stock its 7th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at $8,310,884,000. Proficio Capital Partners LLC raised its position in shares of JPMorgan Chase & Co. by 34,259.3% in the fourth quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after acquiring an additional 3,489,314 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth about $259,038,000. Franklin Resources Inc. boosted its stake in shares of JPMorgan Chase & Co. by 7.2% during the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after acquiring an additional 1,016,289 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new position in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $222,998,000. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on JPM. UBS Group raised their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Truist Financial cut their price target on shares of JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a report on Friday. Baird R W raised shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Wolfe Research raised shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average target price of $254.83.

Insider Activity

In other JPMorgan Chase & Co. news, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares in the company, valued at $13,606,323.93. The trade was a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the transaction, the chief executive officer now 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. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 in the last 90 days. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $210.09 on Friday. The business’s 50 day moving average price is $254.71 and its 200 day moving average price is $241.29. The company has a market cap of $587.43 billion, a price-to-earnings ratio of 10.64, a PEG ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a one year low of $179.20 and a one year high of $280.25.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate 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 business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the previous year, the firm earned $3.04 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, research analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.67%. 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 payout ratio is presently 28.37%.

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.