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

Prentice Wealth Management LLC raised its position in JPMorgan Chase & Co. (NYSE:JPM) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,649 shares of the financial services provider’s stock after buying an additional 377 shares during the quarter. JPMorgan Chase & Co. comprises about 0.7% of Prentice Wealth Management LLC’s holdings, making the stock its 21st largest position. Prentice Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,133,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wellington Wealth Strategies LLC. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at $1,145,000. Etfidea LLC raised its stake in shares of JPMorgan Chase & Co. by 5.4% during the 4th quarter. Etfidea LLC now owns 1,937 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 100 shares during the period. Cooper Financial Group raised its stake in shares of JPMorgan Chase & Co. by 12.8% during the 1st quarter. Cooper Financial Group now owns 8,693 shares of the financial services provider’s stock valued at $1,741,000 after purchasing an additional 984 shares during the period. Sutton Place Investors LLC raised its stake in shares of JPMorgan Chase & Co. by 179.5% during the 4th quarter. Sutton Place Investors LLC now owns 13,099 shares of the financial services provider’s stock valued at $2,228,000 after purchasing an additional 8,412 shares during the period. Finally, Spartan Planning & Wealth Management raised its stake in shares of JPMorgan Chase & Co. by 257.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 3,780 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 2,722 shares during the period. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on JPM shares. BMO Capital Markets decreased their price objective on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a research note on Monday, April 15th. StockNews.com lowered JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Morgan Stanley decreased their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 21st. UBS Group boosted their price objective on JPMorgan Chase & Co. from $219.00 to $224.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $211.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Ashley Bacon sold 5,086 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $199.54, for a total value of $1,014,860.44. Following the completion of the transaction, the insider now owns 212,265 shares of the company’s stock, valued at approximately $42,355,358.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $200.65, for a total value of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The disclosure for this sale can be found here. Insiders sold 250,565 shares of company stock valued at $46,962,717 in the last 90 days. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Trading Down 0.3 %

JPM opened at $197.41 on Thursday. The business has a 50 day simple moving average of $195.87 and a two-hundred day simple moving average of $185.44. The firm has a market capitalization of $566.90 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.66 and a beta of 1.12. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.92 and a quick ratio of 0.92. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Analysts predict that JPMorgan Chase & Co. will post 16.44 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s payout ratio is 27.78%.

About JPMorgan Chase & Co.

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, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.