JPMorgan Chase & Co. (NYSE:JPM) Stock Holdings Raised by Cove Private Wealth LLC

Cove Private Wealth LLC lifted its position in JPMorgan Chase & Co. (NYSE:JPM) by 7.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,698 shares of the financial services provider’s stock after purchasing an additional 1,298 shares during the quarter. JPMorgan Chase & Co. accounts for about 2.8% of Cove Private Wealth LLC’s holdings, making the stock its 7th largest holding. Cove Private Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $4,722,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of JPM. Mizuho Securities Co. Ltd. purchased a new stake in JPMorgan Chase & Co. during the third quarter valued at about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter valued at about $27,000. West Financial Advisors LLC purchased a new stake in JPMorgan Chase & Co. during the 3rd quarter valued at about $37,000. New England Capital Financial Advisors LLC grew its position in JPMorgan Chase & Co. by 38.5% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 180 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 50 shares during the last quarter. Finally, Carolina Wealth Advisors LLC increased its stake in JPMorgan Chase & Co. by 36.0% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 189 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 50 shares during the period. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

JPMorgan Chase & Co. stock opened at $265.61 on Friday. JPMorgan Chase & Co. has a twelve month low of $168.86 and a twelve month high of $266.86. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $747.79 billion, a P/E ratio of 13.46, a PEG ratio of 2.83 and a beta of 1.11. The stock’s 50 day moving average is $244.81 and its 200 day moving average is $225.56.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the company earned $3.04 earnings per share. On average, equities research analysts predict that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.79% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on JPM shares. Daiwa Capital Markets cut their target price on shares of JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of JPMorgan Chase & Co. from $211.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Truist Financial upped their price target on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Morgan Stanley lowered JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $220.00 to $224.00 in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $251.78.

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.