Commonwealth Financial Services LLC Raises Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Commonwealth Financial Services LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,052 shares of the financial services provider’s stock after buying an additional 809 shares during the quarter. Commonwealth Financial Services LLC’s holdings in JPMorgan Chase & Co. were worth $3,848,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC raised its position in JPMorgan Chase & Co. by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 58,344,186 shares of the financial services provider’s stock valued at $12,258,346,000 after purchasing an additional 505,830 shares during the last quarter. Fisher Asset Management LLC raised its position in JPMorgan Chase & Co. by 31.7% in the 3rd quarter. Fisher Asset Management LLC now owns 16,784,272 shares of the financial services provider’s stock valued at $3,539,132,000 after purchasing an additional 4,043,841 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in JPMorgan Chase & Co. by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,084,919 shares of the financial services provider’s stock valued at $3,180,806,000 after purchasing an additional 302,592 shares during the last quarter. Franklin Resources Inc. raised its position in JPMorgan Chase & Co. by 7.2% in the 3rd quarter. Franklin Resources Inc. now owns 15,073,193 shares of the financial services provider’s stock valued at $3,338,955,000 after purchasing an additional 1,016,289 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in JPMorgan Chase & Co. during the 3rd quarter worth $1,888,088,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays upped their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler upped their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Two 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 presently has an average rating of “Hold” and a consensus price target of $251.78.

JPMorgan Chase & Co. Price Performance

Shares of NYSE JPM opened at $275.15 on Wednesday. The stock has a market cap of $774.63 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.94 and a beta of 1.12. JPMorgan Chase & Co. has a 52 week low of $172.62 and a 52 week high of $278.55. The company’s 50-day moving average price is $250.58 and its 200 day moving average price is $231.11. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data 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 firm had revenue of $42.77 billion for the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the company earned $3.04 EPS. As a group, research analysts forecast that JPMorgan Chase & Co. will post 18.05 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

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

Insider Buying and Selling at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares in the company, valued at approximately $12,092,622.80. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is owned by 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.