Riggs Asset Managment Co. Inc. Increases Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Riggs Asset Managment Co. Inc. raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,714 shares of the financial services provider’s stock after acquiring an additional 371 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $410,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB lifted its holdings in shares of JPMorgan Chase & Co. by 17.2% during the third quarter. AMF Tjanstepension AB now owns 473,785 shares of the financial services provider’s stock valued at $99,972,000 after purchasing an additional 69,451 shares in the last quarter. Alpha Financial Partners LLC lifted its stake in JPMorgan Chase & Co. by 11.5% during the 3rd quarter. Alpha Financial Partners LLC now owns 3,329 shares of the financial services provider’s stock valued at $702,000 after acquiring an additional 343 shares during the period. Perfromance Wealth Partners LLC lifted its stake in JPMorgan Chase & Co. by 6.2% during the 3rd quarter. Perfromance Wealth Partners LLC now owns 165,601 shares of the financial services provider’s stock valued at $34,918,000 after acquiring an additional 9,737 shares during the period. Requisite Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 6.6% during the 3rd quarter. Requisite Capital Management LLC now owns 4,737 shares of the financial services provider’s stock valued at $999,000 after acquiring an additional 294 shares during the last quarter. Finally, Pinnacle Wealth Management Group Inc. grew its stake in shares of JPMorgan Chase & Co. by 0.6% in the third quarter. Pinnacle Wealth Management Group Inc. now owns 11,252 shares of the financial services provider’s stock worth $2,373,000 after acquiring an additional 69 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Oppenheimer cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their price target on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective 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. Wolfe Research raised JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price on the stock in a research report on Friday, January 3rd. Finally, Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Stock Performance

NYSE:JPM opened at $275.84 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The stock has a market capitalization of $776.57 billion, a PE ratio of 13.97, a P/E/G ratio of 2.94 and a beta of 1.12. JPMorgan Chase & Co. has a fifty-two week low of $172.62 and a fifty-two week high of $278.55. The company has a fifty day moving average of $250.08 and a two-hundred day moving average of $230.52.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.04 earnings per share. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.05 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Monday, January 6th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 25.33%.

Insider Transactions at JPMorgan Chase & Co.

In other 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 completion of the transaction, the general counsel now directly 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 can be accessed through this hyperlink. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.