King Wealth Management Group Raises Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)

King Wealth Management Group increased its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,202 shares of the financial services provider’s stock after purchasing an additional 2,728 shares during the period. JPMorgan Chase & Co. accounts for 2.8% of King Wealth Management Group’s portfolio, making the stock its 11th biggest position. King Wealth Management Group’s holdings in JPMorgan Chase & Co. were worth $19,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in JPMorgan Chase & Co. by 0.9% in the third quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock worth $12,258,346,000 after purchasing an additional 505,830 shares during the period. Charles Schwab Investment Management Inc. grew its stake in JPMorgan Chase & Co. by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 20,103,063 shares of the financial services provider’s stock worth $4,818,905,000 after purchasing an additional 71,122 shares during the period. Fisher Asset Management LLC grew its stake in JPMorgan Chase & Co. by 3.7% in the fourth quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock worth $4,171,298,000 after purchasing an additional 617,164 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of JPMorgan Chase & Co. by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock worth $3,180,806,000 after acquiring an additional 302,592 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of JPMorgan Chase & Co. by 7.2% in the third quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock worth $3,338,955,000 after acquiring an additional 1,016,289 shares during the last quarter. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Stock Up 1.0 %

JPM stock opened at $241.49 on Friday. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The business’s 50-day moving average is $257.86 and its two-hundred day moving average is $239.22. 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 company has a market cap of $675.24 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, topping the consensus estimate of $4.03 by $0.78. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm had revenue of $42.77 billion for the quarter, compared to the consensus estimate of $41.90 billion. During the same quarter last year, the company earned $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.37%.

Insider Transactions at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the stock in a transaction dated 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 sale, the general counsel now owns 47,620 shares in the company, valued at approximately $12,092,622.80. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,326 shares of company stock valued at $12,448,445 over the last quarter. 0.79% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JPM shares. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. 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 note on Friday, January 3rd. Keefe, Bruyette & Woods increased their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Truist Financial increased their target price on JPMorgan Chase & Co. from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Finally, UBS Group increased their target price 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. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

About JPMorgan Chase & Co.

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.