Monterey Private Wealth Inc. Purchases 1,605 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Monterey Private Wealth Inc. grew its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,544 shares of the financial services provider’s stock after buying an additional 1,605 shares during the quarter. JPMorgan Chase & Co. accounts for about 0.8% of Monterey Private Wealth Inc.’s investment portfolio, making the stock its 24th biggest position. Monterey Private Wealth Inc.’s holdings in JPMorgan Chase & Co. were worth $2,288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of JPM. JPMorgan Chase & Co. lifted its position in shares of JPMorgan Chase & Co. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after purchasing an additional 319,730 shares during the last quarter. Sageworth Trust Co increased its stake in JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after buying an additional 786 shares during the period. Kingsview Wealth Management LLC boosted its position in JPMorgan Chase & Co. by 2.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after buying an additional 2,839 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in JPMorgan Chase & Co. by 16.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after acquiring an additional 95,461 shares in the last quarter. Finally, Zions Bancorporation N.A. increased its position in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock worth $2,353,000 after acquiring an additional 267 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $264.66 on Friday. JPMorgan Chase & Co. has a 52 week low of $170.90 and a 52 week high of $267.10. 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 firm has a market cap of $745.09 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.83 and a beta of 1.11. The business’s 50 day moving average price is $245.28 and its 200 day moving average price is $225.83.

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

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $1.25 dividend. The ex-dividend date is Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.89%. JPMorgan Chase & Co.’s payout ratio is 25.33%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.79% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on JPM shares. UBS Group increased their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Daiwa Capital Markets cut their price target on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Bank of America upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada increased 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 note on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $251.78.

JPMorgan Chase & Co. Company 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.