Riverpoint Wealth Management Holdings LLC Boosts Position in JPMorgan Chase & Co. (NYSE:JPM)

Riverpoint Wealth Management Holdings LLC increased its stake in JPMorgan Chase & Co. (NYSE:JPM) by 76.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,941 shares of the financial services provider’s stock after acquiring an additional 1,707 shares during the quarter. Riverpoint Wealth Management Holdings LLC’s holdings in JPMorgan Chase & Co. were worth $549,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Vectors Research Management LLC raised its position in JPMorgan Chase & Co. by 4.1% in the third quarter. Vectors Research Management LLC now owns 17,836 shares of the financial services provider’s stock worth $2,099,000 after acquiring an additional 697 shares in the last quarter. Spectrum Asset Management Inc. NB CA raised its position in JPMorgan Chase & Co. by 1.4% in the third quarter. Spectrum Asset Management Inc. NB CA now owns 14,448 shares of the financial services provider’s stock worth $1,700,000 after acquiring an additional 195 shares in the last quarter. Colony Group LLC raised its position in JPMorgan Chase & Co. by 1.2% in the third quarter. Colony Group LLC now owns 329,083 shares of the financial services provider’s stock worth $38,730,000 after acquiring an additional 3,865 shares in the last quarter. Voya Financial Advisors Inc. raised its position in JPMorgan Chase & Co. by 1.9% in the third quarter. Voya Financial Advisors Inc. now owns 47,153 shares of the financial services provider’s stock worth $5,551,000 after acquiring an additional 872 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in JPMorgan Chase & Co. in the third quarter worth $227,000. 73.93% of the stock is currently owned by institutional investors.

Shares of JPM stock traded up $3.30 during mid-day trading on Wednesday, reaching $91.73. The stock had a trading volume of 38,034,767 shares, compared to its average volume of 19,279,854. JPMorgan Chase & Co. has a 12-month low of $76.91 and a 12-month high of $141.10. The company has a market cap of $242.94 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 1.50 and a beta of 1.19. The business has a 50-day simple moving average of $117.04 and a 200 day simple moving average of $125.62. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.32 by $0.25. JPMorgan Chase & Co. had a return on equity of 15.19% and a net margin of 25.49%. The business had revenue of $28.30 billion during the quarter, compared to analysts’ expectations of $27.69 billion. During the same quarter last year, the business posted $1.98 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts anticipate that JPMorgan Chase & Co. will post 10.57 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, April 6th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Friday, April 3rd. JPMorgan Chase & Co.’s payout ratio is currently 34.35%.

Several research analysts have issued reports on JPM shares. DZ Bank upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Friday, March 20th. Wolfe Research cut JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 6th. Credit Suisse Group increased their price objective on JPMorgan Chase & Co. from $142.00 to $147.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. Odeon Capital Group upgraded JPMorgan Chase & Co. from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Finally, Bank of America reiterated a “buy” rating and issued a $147.00 price objective on shares of JPMorgan Chase & Co. in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $131.18.

In related news, CEO Douglas B. Petno sold 62,085 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $131.94, for a total transaction of $8,191,494.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Daniel E. Pinto sold 15,212 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $135.72, for a total value of $2,064,572.64. Following the sale, the chief executive officer now directly owns 458,209 shares in the company, valued at approximately $62,188,125.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,814 shares of company stock worth $17,318,144. Corporate insiders own 0.76% of the company’s stock.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

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

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