Mission Wealth Management LP Acquires 8,057 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Mission Wealth Management LP raised its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 10.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 88,270 shares of the financial services provider’s stock after acquiring an additional 8,057 shares during the period. Mission Wealth Management LP’s holdings in JPMorgan Chase & Co. were worth $21,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $8,310,884,000. GAMMA Investing LLC grew its position in shares of JPMorgan Chase & Co. by 25,861.9% in the first quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider’s stock valued at $5,778,289,000 after purchasing an additional 23,465,278 shares in the last quarter. Northern Trust Corp raised its stake in shares of JPMorgan Chase & Co. by 15.4% during the 4th quarter. Northern Trust Corp now owns 33,845,676 shares of the financial services provider’s stock valued at $8,113,147,000 after purchasing an additional 4,515,147 shares during the period. Proficio Capital Partners LLC lifted its holdings in JPMorgan Chase & Co. by 34,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock worth $838,865,000 after purchasing an additional 3,489,314 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in JPMorgan Chase & Co. by 31.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 10,684,810 shares of the financial services provider’s stock worth $2,561,256,000 after purchasing an additional 2,551,899 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Down 0.4%

Shares of NYSE JPM opened at $269.35 on Wednesday. The stock has a market capitalization of $748.55 billion, a P/E ratio of 13.22, a PEG ratio of 2.74 and a beta of 1.08. JPMorgan Chase & Co. has a one year low of $190.90 and a one year high of $280.25. The firm’s 50 day simple moving average is $253.87 and its two-hundred day simple moving average is $250.84. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.89 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 21.21% and a return on equity of 16.88%. The company had revenue of $45.30 billion during the quarter, compared to analysts’ expectations of $43.62 billion. During the same quarter in the prior year, the company earned $4.44 EPS. The firm’s revenue was up 8.0% on a year-over-year basis. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 3rd will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, July 3rd. This represents a $5.60 annualized dividend and a yield of 2.08%. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Insider Activity

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the sale, the chief executive officer now directly owns 133,381 shares in the company, valued at $32,947,774.62. This represents a 15.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Stacey Friedman sold 6,608 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $265.71, for a total value of $1,755,811.68. Following the completion of the transaction, the general counsel now directly owns 36,520 shares in the company, valued at $9,703,729.20. This trade represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,722 shares of company stock valued at $25,599,477. 0.47% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

JPM has been the topic of several analyst reports. Bank of America decreased their price target on JPMorgan Chase & Co. from $285.00 to $284.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Cowen reiterated a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Tuesday, May 20th. Wall Street Zen upgraded shares of JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. Wells Fargo & Company increased their price objective on JPMorgan Chase & Co. from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 10th. Finally, TD Securities reissued a “buy” rating on shares of JPMorgan Chase & Co. in a research note on Wednesday, June 4th. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $269.65.

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.