Manhattan West Asset Management LLC Boosts Stake in JPMorgan Chase & Co. (NYSE:JPM)

Manhattan West Asset Management LLC boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,705 shares of the financial services provider’s stock after acquiring an additional 3,430 shares during the period. JPMorgan Chase & Co. accounts for approximately 1.6% of Manhattan West Asset Management LLC’s investment portfolio, making the stock its 18th biggest position. Manhattan West Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $5,563,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC raised its holdings in shares of JPMorgan Chase & Co. by 7.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 90,085 shares of the financial services provider’s stock worth $15,323,000 after acquiring an additional 6,180 shares during the period. Gold Investment Management Ltd. acquired a new position in JPMorgan Chase & Co. in the 4th quarter valued at about $3,290,000. Bank of Nova Scotia Trust Co. grew its stake in shares of JPMorgan Chase & Co. by 1.9% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 74,410 shares of the financial services provider’s stock valued at $12,657,000 after buying an additional 1,423 shares during the period. Alley Investment Management Company LLC increased its holdings in shares of JPMorgan Chase & Co. by 5.7% during the 4th quarter. Alley Investment Management Company LLC now owns 134,179 shares of the financial services provider’s stock worth $22,824,000 after buying an additional 7,266 shares during the last quarter. Finally, Evoke Wealth LLC raised its position in shares of JPMorgan Chase & Co. by 4.6% during the 4th quarter. Evoke Wealth LLC now owns 26,428 shares of the financial services provider’s stock valued at $4,496,000 after buying an additional 1,159 shares during the period. Institutional investors and hedge funds own 71.55% of the company’s stock.

JPMorgan Chase & Co. Price Performance

Shares of NYSE:JPM traded up $3.30 on Friday, reaching $202.63. 14,417,885 shares of the company were exchanged, compared to its average volume of 8,376,808. The company has a 50-day moving average of $195.14 and a 200-day moving average of $179.96. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.29. The firm has a market cap of $581.89 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 2.70 and a beta of 1.13. JPMorgan Chase & Co. has a 1-year low of $134.40 and a 1-year high of $205.88.

JPMorgan Chase & Co. (NYSE:JPM) last issued its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. The company had revenue of $41.93 billion during the quarter, compared to analysts’ expectations of $40.90 billion. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. Equities analysts forecast that JPMorgan Chase & Co. will post 16.32 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be paid a $1.15 dividend. The ex-dividend date is Friday, July 5th. This represents a $4.60 dividend on an annualized basis and a yield of 2.27%. JPMorgan Chase & Co.’s payout ratio is 27.78%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, General Counsel Stacey Friedman sold 4,415 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $200.65, for a total transaction of $885,869.75. Following the completion of the transaction, the general counsel now directly owns 42,124 shares of the company’s stock, valued at approximately $8,452,180.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,415 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $200.65, for a total value of $885,869.75. Following the transaction, the general counsel now directly owns 42,124 shares in the company, valued at approximately $8,452,180.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO James Dimon sold 178,222 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the sale, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The disclosure for this sale can be found here. In the last three months, insiders sold 249,399 shares of company stock worth $46,713,667. 0.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on JPM shares. Piper Sandler increased their price objective on shares of JPMorgan Chase & Co. from $215.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Robert W. Baird raised their price objective on shares of JPMorgan Chase & Co. from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, May 21st. UBS Group boosted their target price on shares of JPMorgan Chase & Co. from $219.00 to $224.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Keefe, Bruyette & Woods raised their price target on JPMorgan Chase & Co. from $203.00 to $209.00 and gave the company a “market perform” rating in a research note on Tuesday, May 21st. Finally, Evercore ISI upped their price objective on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $194.10.

JPMorgan Chase & Co. Profile

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.