Portus Wealth Advisors LLC Acquires New Shares in JPMorgan Chase & Co. $JPM

Portus Wealth Advisors LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,941 shares of the financial services provider’s stock, valued at approximately $1,559,000. JPMorgan Chase & Co. comprises about 1.6% of Portus Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position.

Other institutional investors also recently bought and sold shares of the company. Mizuho Securities Co. Ltd. raised its stake in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock worth $32,000 after buying an additional 90 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of JPMorgan Chase & Co. in the 3rd quarter worth about $32,000. Family Legacy Financial Solutions LLC grew its stake in JPMorgan Chase & Co. by 92.6% in the 3rd quarter. Family Legacy Financial Solutions LLC now owns 104 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 50 shares during the last quarter. Turning Point Benefit Group Inc. acquired a new stake in JPMorgan Chase & Co. in the 3rd quarter valued at about $35,000. Finally, Collier Financial purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $60,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting JPMorgan Chase & Co.

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

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock opened at $287.68 on Thursday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $337.25. The stock has a market capitalization of $775.88 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.19 and a beta of 1.06. The firm’s 50-day moving average is $304.03 and its two-hundred day moving average is $308.08. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.85 and a quick ratio of 0.85.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last posted its quarterly earnings data on Tuesday, January 13th. The financial services provider reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.93 by $0.30. The business had revenue of $45.80 billion during the quarter, compared to analyst estimates of $45.98 billion. JPMorgan Chase & Co. had a net margin of 20.35% and a return on equity of 17.16%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.81 earnings per share. Equities analysts predict that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 6th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, April 6th. JPMorgan Chase & Co.’s payout ratio is presently 29.99%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,404 shares of the business’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $312.80, for a total value of $1,064,771.20. Following the completion of the transaction, the general counsel directly owned 65,353 shares in the company, valued at approximately $20,442,418.40. The trade was a 4.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jennifer Piepszak sold 8,571 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $312.79, for a total value of $2,680,923.09. Following the transaction, the chief operating officer directly owned 71,027 shares in the company, valued at approximately $22,216,535.33. This represents a 10.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 71,596 shares of company stock worth $22,067,932 in the last three months. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on JPM. Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $336.00 to $345.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Freedom Capital upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a research report on Wednesday, January 14th. Wolfe Research cut shares of JPMorgan Chase & Co. from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 7th. Barclays restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded JPMorgan Chase & Co. from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $340.00.

View Our Latest Stock Analysis on JPM

JPMorgan Chase & Co. Profile

(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

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

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