Broadway Wealth Solutions Inc. Makes New Investment in JPMorgan Chase & Co. (NYSE:JPM)

Broadway Wealth Solutions Inc. bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 2,496 shares of the financial services provider’s stock, valued at approximately $598,000. JPMorgan Chase & Co. accounts for approximately 0.5% of Broadway Wealth Solutions Inc.’s investment portfolio, making the stock its 22nd largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of JPM. Norges Bank bought a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth approximately $8,310,884,000. Proficio Capital Partners LLC lifted its position in shares of JPMorgan Chase & Co. by 34,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 3,499,499 shares of the financial services provider’s stock valued at $838,865,000 after buying an additional 3,489,314 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in JPMorgan Chase & Co. during the fourth quarter valued at about $259,038,000. Franklin Resources Inc. boosted its holdings 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 worth $3,338,955,000 after buying an additional 1,016,289 shares during the period. Finally, DJE Kapital AG bought a new position in shares of JPMorgan Chase & Co. in the fourth quarter worth $179,870,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Trading Down 0.7 %

Shares of JPM opened at $243.58 on Wednesday. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24. The firm’s 50-day moving average price is $256.88 and its 200-day moving average price is $241.33. The firm has a market capitalization of $681.06 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $41.90 billion. During the same period in the previous year, the firm posted $3.04 EPS. The business’s revenue was up 10.9% on a year-over-year basis. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.30%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is presently 28.37%.

Analyst Ratings Changes

A number of equities analysts have recently commented on JPM shares. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. UBS Group upped their price objective on JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Barclays increased their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Truist Financial upped their price target on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a research report on Thursday, January 16th. Finally, Bank of America raised their price objective on JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, January 7th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $254.83.

Insiders Place Their Bets

In other news, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $270.09, for a total value of $337,612.50. Following the sale, the insider now directly owns 50,377 shares of the company’s stock, valued at $13,606,323.93. This represents a 2.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Troy L. Rohrbaugh sold 25,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $247.02, for a total transaction of $6,175,500.00. Following the completion of the transaction, the chief executive officer now owns 133,381 shares of the company’s stock, valued at approximately $32,947,774.62. The trade was a 15.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,848 shares of company stock worth $19,987,908. 0.79% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.