Meridian Wealth Management LLC raised its position in JPMorgan Chase (NYSE:JPM) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,308 shares of the financial services provider’s stock after acquiring an additional 465 shares during the quarter. JPMorgan Chase accounts for about 3.4% of Meridian Wealth Management LLC’s investment portfolio, making the stock its 6th largest holding. Meridian Wealth Management LLC’s holdings in JPMorgan Chase were worth $5,536,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in JPM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of JPMorgan Chase during the third quarter worth approximately $102,000. Welch Investments LLC acquired a new stake in shares of JPMorgan Chase during the third quarter worth approximately $103,000. Legacy Advisors LLC acquired a new stake in shares of JPMorgan Chase during the third quarter worth approximately $106,000. Cerebellum GP LLC acquired a new stake in shares of JPMorgan Chase during the fourth quarter worth approximately $119,000. Finally, Price Wealth Management Inc. acquired a new stake in shares of JPMorgan Chase during the fourth quarter worth approximately $124,000. 74.53% of the stock is owned by institutional investors and hedge funds.
JPM has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on shares of JPMorgan Chase from $128.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Wells Fargo set a $130.00 price objective on shares of JPMorgan Chase and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays lifted their price objective on shares of JPMorgan Chase from $105.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Zacks Investment Research raised shares of JPMorgan Chase from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a report on Monday, March 19th. Finally, Societe Generale downgraded shares of JPMorgan Chase from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the stock. JPMorgan Chase currently has an average rating of “Hold” and a consensus target price of $112.10.
In other news, Director Mellody L. Hobson bought 18,000 shares of the stock in a transaction that occurred on Monday, April 16th. The shares were purchased at an average cost of $111.05 per share, with a total value of $1,998,900.00. Following the completion of the acquisition, the director now directly owns 864 shares in the company, valued at $95,947.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is owned by insiders.
Shares of NYSE JPM opened at $110.93 on Tuesday. JPMorgan Chase has a fifty-two week low of $81.64 and a fifty-two week high of $119.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.19. The stock has a market cap of $382,560.47, a P/E ratio of 16.15, a P/E/G ratio of 1.88 and a beta of 1.24.
JPMorgan Chase (NYSE:JPM) last issued its quarterly earnings data on Friday, April 13th. The financial services provider reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.09. JPMorgan Chase had a net margin of 22.53% and a return on equity of 12.60%. The business had revenue of $27.90 billion for the quarter, compared to analysts’ expectations of $27.73 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. analysts predict that JPMorgan Chase will post 8.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 6th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, April 5th. JPMorgan Chase’s payout ratio is currently 32.61%.
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JPMorgan Chase Profile
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; residential mortgages and home equity loans; and credit cards, payment processing services, auto loans and leases.
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