Sara Bay Financial Makes New $15.02 Million Investment in JPMorgan Chase & Co. (NYSE:JPM)

Sara Bay Financial acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 62,764 shares of the financial services provider’s stock, valued at approximately $15,021,000. JPMorgan Chase & Co. accounts for 5.6% of Sara Bay Financial’s holdings, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mizuho Securities Co. Ltd. purchased a new position in JPMorgan Chase & Co. in the third quarter valued at $25,000. Catalyst Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. West Financial Advisors LLC acquired a new stake in shares of JPMorgan Chase & Co. during the 3rd quarter worth about $37,000. New England Capital Financial Advisors LLC lifted its stake in JPMorgan Chase & Co. by 38.5% during the third quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 50 shares during the last quarter. Finally, Carolina Wealth Advisors LLC boosted its holdings in JPMorgan Chase & Co. by 36.0% in the third quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 50 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JPM has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research note on Friday, January 3rd. Daiwa Capital Markets cut their target price on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upped their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Hold” and an average price target of $251.78.

Insider Buying and Selling

In other news, General Counsel Stacey Friedman sold 3,303 shares of JPMorgan Chase & Co. 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.79% of the stock is owned by insiders.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $259.46 on Tuesday. The stock has a market capitalization of $730.47 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 3.16 and a beta of 1.11. The business’s 50 day moving average is $243.50 and its two-hundred day moving average is $224.52. JPMorgan Chase & Co. has a 12-month low of $165.24 and a 12-month high of $260.62. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.27.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. Research analysts expect that JPMorgan Chase & Co. will post 17.46 EPS for the current year.

JPMorgan Chase & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.82%.

JPMorgan Chase & Co. Profile

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.