Prentice Wealth Management LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Prentice Wealth Management LLC raised its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,649 shares of the financial services provider’s stock after purchasing an additional 377 shares during the period. JPMorgan Chase & Co. accounts for about 0.7% of Prentice Wealth Management LLC’s portfolio, making the stock its 21st biggest position. Prentice Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC raised its position in JPMorgan Chase & Co. by 132.8% during the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 89 shares during the period. Bare Financial Services Inc bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $35,000. Partnership Wealth Management LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $36,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at approximately $40,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $197.41 on Thursday. The firm has a market capitalization of $566.90 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 2.66 and a beta of 1.12. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. The business has a fifty day moving average of $195.87 and a 200 day moving average of $185.44. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. As a group, research analysts expect that JPMorgan Chase & Co. will post 16.44 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 Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Insiders Place Their Bets

In other JPMorgan Chase & Co. news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, the insider now directly owns 217,351 shares of the company’s stock, valued at approximately $42,087,847.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the sale, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $193.64, for a total value of $984,853.04. Following the sale, the insider now owns 217,351 shares in the company, valued at $42,087,847.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,565 shares of company stock valued at $46,962,717. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on JPM shares. Jefferies Financial Group increased their price objective on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Morgan Stanley dropped their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. BMO Capital Markets lowered their target price on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a report on Monday, April 15th. Finally, Robert W. Baird upped their target price on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.10.

About JPMorgan Chase & Co.

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.