WealthPlan Investment Management LLC Increases Stock Holdings in JPMorgan Chase & Co. $JPM

WealthPlan Investment Management LLC increased its holdings in shares of JPMorgan Chase & Co. (NYSE:JPMFree Report) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,360 shares of the financial services provider’s stock after buying an additional 2,242 shares during the period. WealthPlan Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $12,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Turning Point Benefit Group Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 3rd quarter valued at approximately $35,000. Merrithew & Thorsten Inc purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $40,000. WHI TRUST Co LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $45,000. Cresta Advisors Ltd. purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $48,000. Finally, Miller Global Investments LLC purchased a new position in JPMorgan Chase & Co. in the 4th quarter valued at $52,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 5,468 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total value of $1,641,876.36. Following the completion of the sale, the general counsel directly owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 3,022 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $309.41, for a total value of $935,037.02. Following the completion of the sale, the chief financial officer directly owned 32,438 shares of the company’s stock, valued at $10,036,641.58. This trade represents a 8.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,589 shares of company stock valued at $8,747,496 over the last 90 days. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on JPM. Autonomous Res decreased their price objective on JPMorgan Chase & Co. from $360.00 to $324.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. DZ Bank restated a “neutral” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, April 15th. Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a report on Wednesday, May 6th. Argus raised their price objective on JPMorgan Chase & Co. from $340.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Finally, Robert W. Baird set a $295.00 price objective on JPMorgan Chase & Co. in a report on Wednesday, April 15th. Fifteen equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, JPMorgan Chase & Co. currently has an average rating of “Moderate Buy” and a consensus price target of $339.08.

Read Our Latest Research Report on JPM

Key JPMorgan Chase & Co. News

Here are the key news stories impacting JPMorgan Chase & Co. this week:

JPMorgan Chase & Co. Stock Up 0.0%

Shares of JPM opened at $306.49 on Tuesday. JPMorgan Chase & Co. has a 52-week low of $256.00 and a 52-week high of $337.25. The company has a market capitalization of $821.25 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.49 and a beta of 1.03. The stock has a fifty day simple moving average of $301.33 and a two-hundred day simple moving average of $307.10. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.30.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $5.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.44. JPMorgan Chase & Co. had a return on equity of 17.54% and a net margin of 20.66%.The business had revenue of $50.54 billion during the quarter, compared to the consensus estimate of $48.30 billion. During the same period last year, the company earned $5.07 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, equities analysts forecast that JPMorgan Chase & Co. will post 22.43 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.0%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 28.74%.

About JPMorgan Chase & Co.

(Free Report)

JPMorgan Chase & Co (NYSE: JPM) is a diversified global financial services firm headquartered in New York City. The company provides a wide range of banking and financial products and services to consumers, small businesses, corporations, governments and institutional investors worldwide. Its operations span retail banking, commercial lending, investment banking, asset management, payments and card services, and treasury and securities services.

The firm’s principal business activities are organized across several core lines: Consumer & Community Banking, which offers deposit accounts, mortgages, auto loans, credit cards and branch and digital banking under the Chase brand; Corporate & Investment Banking, which provides capital markets, advisory, underwriting, trading and risk management services; Commercial Banking, delivering lending, treasury and capital solutions to middle-market and corporate clients; and Asset & Wealth Management, which offers investment management, private banking and retirement services to institutions and high-net-worth individuals.

See Also

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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