Virtus Wealth Solutions LLC Purchases New Position in JPMorgan Chase & Co. (NYSE:JPM)

Virtus Wealth Solutions LLC acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 12,621 shares of the financial services provider’s stock, valued at approximately $3,025,000. JPMorgan Chase & Co. accounts for about 0.7% of Virtus Wealth Solutions LLC’s holdings, making the stock its 23rd biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Disciplined Investments LLC purchased a new stake in JPMorgan Chase & Co. in the 4th quarter valued at $217,000. LGT Group Foundation increased its stake in JPMorgan Chase & Co. by 2.8% in the fourth quarter. LGT Group Foundation now owns 525,801 shares of the financial services provider’s stock valued at $126,040,000 after purchasing an additional 14,300 shares during the period. Kinsale Capital Group Inc. raised its holdings in shares of JPMorgan Chase & Co. by 11.1% in the fourth quarter. Kinsale Capital Group Inc. now owns 43,732 shares of the financial services provider’s stock valued at $10,483,000 after buying an additional 4,375 shares during the last quarter. Jag Capital Management LLC boosted its stake in shares of JPMorgan Chase & Co. by 10.5% during the fourth quarter. Jag Capital Management LLC now owns 1,474 shares of the financial services provider’s stock worth $353,000 after buying an additional 140 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of JPMorgan Chase & Co. by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after buying an additional 319,730 shares during the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Stock Up 4.0 %

JPMorgan Chase & Co. stock opened at $236.26 on Friday. The firm has a market capitalization of $660.60 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. 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 $248.89 and its two-hundred day moving average is $242.03. 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. (NYSE:JPM) last announced its quarterly earnings results on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.44. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The company had revenue of $45.30 billion for the quarter, compared to the consensus estimate of $43.62 billion. During the same quarter in the prior year, the firm earned $4.44 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.37%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 28.37%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Truist Financial decreased their price objective on JPMorgan Chase & Co. from $268.00 to $264.00 and set a “hold” rating for the company in a research report on Friday, April 4th. Robert W. Baird raised JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $215.00 to $220.00 in a report on Friday, March 7th. Keefe, Bruyette & Woods boosted 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. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Finally, UBS Group increased their price target on shares of JPMorgan Chase & Co. from $276.00 to $287.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $254.83.

Insider Transactions at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 25,000 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $247.02, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jennifer Piepszak sold 4,273 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $269.85, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,848 shares of company stock valued at $19,987,908 over the last three months. 0.79% of the stock is currently owned by insiders.

JPMorgan Chase & Co. Company 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.