Thrive Wealth Management LLC Raises Position in JPMorgan Chase & Co. (NYSE:JPM)

Thrive Wealth Management LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,854 shares of the financial services provider’s stock after acquiring an additional 555 shares during the period. Thrive Wealth Management LLC’s holdings in JPMorgan Chase & Co. were worth $1,573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $6,016,878,000. International Assets Investment Management LLC bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth approximately $1,017,893,000. Wellington Management Group LLP boosted its holdings in shares of JPMorgan Chase & Co. by 12.2% in the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after buying an additional 4,603,090 shares during the last quarter. Capital International Investors grew its position in JPMorgan Chase & Co. by 5.4% during the fourth quarter. Capital International Investors now owns 41,516,695 shares of the financial services provider’s stock valued at $7,062,094,000 after buying an additional 2,128,478 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its holdings in JPMorgan Chase & Co. by 3,836.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,518,969 shares of the financial services provider’s stock valued at $258,377,000 after buying an additional 1,480,379 shares during the last quarter. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on JPM shares. Robert W. Baird boosted their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Morgan Stanley decreased their target price on shares of 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. Keefe, Bruyette & Woods upped their price target on shares of JPMorgan Chase & Co. from $203.00 to $209.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 21st. Wells Fargo & Company raised their price objective on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, StockNews.com downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.10.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $202.26 on Friday. The business has a 50 day simple moving average of $196.91 and a 200-day simple moving average of $186.10. JPMorgan Chase & Co. has a 1 year low of $135.19 and a 1 year high of $205.88. The firm has a market capitalization of $580.82 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.67 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. (NYSE:JPM) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The company had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. Equities analysts forecast that JPMorgan Chase & Co. will post 16.44 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 27.78%.

Insider Activity

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $200.65, for a total transaction of $885,869.75. Following the transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other JPMorgan Chase & Co. news, insider Robin Leopold sold 3,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $198.86, for a total transaction of $596,580.00. Following the sale, the insider now owns 44,113 shares of the company’s stock, valued at approximately $8,772,311.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Stacey Friedman sold 4,415 shares of the business’s stock in a transaction 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 $8,452,180.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,565 shares of company stock valued at $46,962,717. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company 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, 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.