Laffer Tengler Investments Inc. Grows Holdings in JPMorgan Chase & Co. (NYSE:JPM)

Laffer Tengler Investments Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,704 shares of the financial services provider’s stock after buying an additional 7,227 shares during the period. JPMorgan Chase & Co. accounts for about 2.9% of Laffer Tengler Investments Inc.’s investment portfolio, making the stock its 6th largest position. Laffer Tengler Investments Inc.’s holdings in JPMorgan Chase & Co. were worth $14,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. increased its position in JPMorgan Chase & Co. by 3.2% in the third quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock worth $1,228,110,000 after purchasing an additional 182,648 shares during the last quarter. United Bank increased its position in JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after purchasing an additional 614 shares during the last quarter. RKL Wealth Management LLC increased its position in JPMorgan Chase & Co. by 1.1% in the third quarter. RKL Wealth Management LLC now owns 19,512 shares of the financial services provider’s stock worth $4,114,000 after purchasing an additional 207 shares during the last quarter. Mach 1 Financial Group LLC increased its position in JPMorgan Chase & Co. by 12.5% in the third quarter. Mach 1 Financial Group LLC now owns 4,369 shares of the financial services provider’s stock worth $921,000 after purchasing an additional 485 shares during the last quarter. Finally, Covestor Ltd increased its position in JPMorgan Chase & Co. by 13.8% in the third quarter. Covestor Ltd now owns 1,461 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 177 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, COO Jennifer Piepszak sold 4,273 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total value of $1,153,069.05. Following the completion of the transaction, the chief operating officer now owns 54,469 shares in the company, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Leopold sold 1,250 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total value of $337,612.50. Following the completion of the transaction, the insider now owns 50,377 shares of the company’s stock, valued at approximately $13,606,323.93. The trade was a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,326 shares of company stock worth $12,448,445 in the last three months. 0.79% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Stock Up 3.4 %

JPMorgan Chase & Co. stock opened at $232.94 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.89 and a current ratio of 0.88. The firm has a market capitalization of $651.31 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a fifty-two week low of $179.20 and a fifty-two week high of $280.25. The stock’s fifty day moving average is $258.29 and its two-hundred day moving average is $238.70.

JPMorgan Chase & Co. (NYSE:JPM) last posted 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. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The business had revenue of $42.77 billion for the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the company earned $3.04 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on JPM shares. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Wells Fargo & Company boosted their price objective 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. Barclays boosted their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Keefe, Bruyette & Woods boosted their target price 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. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

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.