HighPoint Advisor Group LLC Invests $31.72 Million in JPMorgan Chase & Co. (NYSE:JPM)

HighPoint Advisor Group LLC acquired a new stake in shares of JPMorgan Chase & Co. (NYSE:JPMFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 186,490 shares of the financial services provider’s stock, valued at approximately $31,722,000. JPMorgan Chase & Co. comprises 2.4% of HighPoint Advisor Group LLC’s holdings, making the stock its 5th biggest holding.

Other large investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC raised its stake in shares of JPMorgan Chase & Co. by 132.8% in the fourth quarter. Stone House Investment Management LLC now owns 156 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 89 shares during the last quarter. Bare Financial Services Inc bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $35,000. Partnership Wealth Management LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $36,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $40,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

JPMorgan Chase & Co. Trading Up 1.2 %

NYSE:JPM traded up $2.35 during midday trading on Tuesday, hitting $197.33. The stock had a trading volume of 708,515 shares, compared to its average volume of 9,081,431. JPMorgan Chase & Co. has a one year low of $135.19 and a one year high of $205.88. The company has a market capitalization of $566.67 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.61 and a beta of 1.12. The stock has a 50-day moving average of $194.83 and a 200 day moving average of $183.74. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29.

JPMorgan Chase & Co. (NYSE:JPMGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $4.63 EPS for the quarter, beating the consensus estimate of $4.18 by $0.45. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. The firm had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. As a group, sell-side analysts forecast that JPMorgan Chase & Co. will post 16.41 EPS for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, July 5th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, July 5th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group boosted their price target on JPMorgan Chase & Co. from $202.00 to $228.00 and gave the company a “buy” rating in a report on Monday, April 8th. Morgan Stanley lowered their price objective on JPMorgan Chase & Co. from $216.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 21st. Robert W. Baird boosted their price objective on JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Wells Fargo & Company boosted their target price on JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $211.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, May 21st. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $194.10.

Get Our Latest Research Report on JPMorgan Chase & Co.

Insiders Place Their Bets

In other news, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the sale, the insider now directly owns 217,351 shares in the company, valued at approximately $42,087,847.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other JPMorgan Chase & Co. news, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $184.18, for a total value of $32,824,927.96. Following the transaction, the chief executive officer now directly owns 264,461 shares of the company’s stock, valued at approximately $48,708,426.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ashley Bacon sold 5,086 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $193.64, for a total transaction of $984,853.04. Following the completion of the transaction, the insider now directly owns 217,351 shares in the company, valued at $42,087,847.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,485 shares of company stock valued at $47,728,528. Company insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Profile

(Free Report)

JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.

Further Reading

Institutional Ownership by Quarter for JPMorgan Chase & Co. (NYSE:JPM)

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