Hager Investment Management Services LLC Acquires New Position in JPMorgan Chase & Co. (NYSE:JPM)

Hager Investment Management Services LLC acquired a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,390 shares of the financial services provider’s stock, valued at approximately $3,449,000. JPMorgan Chase & Co. accounts for 2.2% of Hager Investment Management Services LLC’s portfolio, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. AMF Tjanstepension AB raised its stake in JPMorgan Chase & Co. by 17.2% in the 3rd quarter. AMF Tjanstepension AB now owns 473,785 shares of the financial services provider’s stock valued at $99,972,000 after acquiring an additional 69,451 shares during the period. Alpha Financial Partners LLC grew its holdings in JPMorgan Chase & Co. by 11.5% during the 3rd quarter. Alpha Financial Partners LLC now owns 3,329 shares of the financial services provider’s stock valued at $702,000 after buying an additional 343 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in JPMorgan Chase & Co. by 1.4% during the 3rd quarter. Wedge Capital Management L L P NC now owns 4,384 shares of the financial services provider’s stock valued at $924,000 after buying an additional 61 shares in the last quarter. Creative Planning grew its holdings in JPMorgan Chase & Co. by 3.1% during the 3rd quarter. Creative Planning now owns 1,139,115 shares of the financial services provider’s stock valued at $240,194,000 after buying an additional 34,746 shares in the last quarter. Finally, von Borstel & Associates Inc. purchased a new position in JPMorgan Chase & Co. during the 3rd quarter valued at about $766,000. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $275.41 on Thursday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. JPMorgan Chase & Co. has a fifty-two week low of $172.62 and a fifty-two week high of $278.55. The stock has a 50 day moving average price of $251.18 and a two-hundred day moving average price of $231.55. The company has a market capitalization of $775.37 billion, a P/E ratio of 13.95, a PEG ratio of 2.94 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to the consensus estimate of $41.90 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 earnings per share. Analysts expect that JPMorgan Chase & Co. will post 18.05 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Monday, January 6th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, January 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.82%. JPMorgan Chase & Co.’s dividend payout ratio is presently 25.33%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on JPM. UBS Group lifted their target price on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, November 7th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 target price for the company. in a report on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $251.78.

Insider Activity at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total transaction of $838,763.82. Following the completion of the transaction, the general counsel now owns 47,620 shares in the company, valued at $12,092,622.80. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.79% of the stock is owned by corporate insiders.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.