Elevatus Welath Management Acquires 679 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Elevatus Welath Management grew its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,962 shares of the financial services provider’s stock after acquiring an additional 679 shares during the quarter. Elevatus Welath Management’s holdings in JPMorgan Chase & Co. were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of JPMorgan Chase & Co. by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 59,220,603 shares of the financial services provider’s stock worth $14,161,171,000 after buying an additional 876,417 shares during the last quarter. Norges Bank bought a new position in JPMorgan Chase & Co. in the 4th quarter worth approximately $8,310,884,000. Charles Schwab Investment Management Inc. grew its position in shares of 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 valued at $4,818,905,000 after purchasing an additional 71,122 shares in the last quarter. Fisher Asset Management LLC grew its holdings in JPMorgan Chase & Co. by 3.7% during the 4th quarter. Fisher Asset Management LLC now owns 17,401,436 shares of the financial services provider’s stock valued at $4,171,298,000 after buying an additional 617,164 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in JPMorgan Chase & Co. by 7.2% during the 3rd 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 period. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on JPM. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $215.00 to $220.00 in a research note on Friday, March 7th. StockNews.com cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research report on Monday, April 14th. KGI Securities assumed coverage on JPMorgan Chase & Co. in a research report on Sunday, April 13th. They issued a “hold” rating for the company. Truist Financial set a $261.00 price objective on shares of JPMorgan Chase & Co. in a research note on Monday. Finally, Barclays raised their price target on JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned 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 target price of $255.67.

Insider Buying and Selling

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the transaction, the insider now owns 49,127 shares in the company, valued at $12,130,438.84. This represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This trade represents a 19.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,545 shares of company stock worth $19,149,144. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.9 %

Shares of JPMorgan Chase & Co. stock opened at $231.79 on Friday. The company has a 50-day simple moving average of $244.72 and a two-hundred day simple moving average of $242.59. The stock has a market capitalization of $645.07 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a 52-week low of $181.41 and a 52-week high of $280.25. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. During the same period in the prior year, the firm posted $4.44 EPS. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. On average, analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. This represents a $5.60 annualized dividend and a dividend yield of 2.42%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.