Noble Wealth Management PBC Makes New $471,000 Investment in JPMorgan Chase & Co. (NYSE:JPM)

Noble Wealth Management PBC purchased a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,964 shares of the financial services provider’s stock, valued at approximately $471,000.

Several other hedge funds also recently modified their holdings of the company. Mizuho Securities Co. Ltd. bought a new stake in JPMorgan Chase & Co. during the 3rd quarter worth approximately $25,000. Midwest Capital Advisors LLC bought a new position in shares of JPMorgan Chase & Co. during the fourth quarter valued at $43,000. Collier Financial acquired a new position in shares of JPMorgan Chase & Co. during the fourth quarter worth $45,000. Lowe Wealth Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 34.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 201 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 51 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in JPMorgan Chase & Co. in the fourth quarter valued at $50,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on JPM shares. Piper Sandler lifted their target price on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. UBS Group lifted their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Wells Fargo & Company increased their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Bank of America raised their price target on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has an average rating of “Hold” and an average target price of $252.89.

Insider Activity

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total transaction of $838,763.82. Following the sale, the general counsel now owns 47,620 shares of the company’s stock, valued at $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. The trade was a 19.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,326 shares of company stock valued at $12,448,445. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of JPMorgan Chase & Co. stock opened at $231.82 on Tuesday. The firm has a market cap of $648.18 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $179.20 and a 12-month high of $280.25. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The company’s fifty day simple moving average is $259.26 and its two-hundred day simple moving average is $238.70.

JPMorgan Chase & Co. (NYSE:JPM) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.78. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. As a group, equities analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

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.