Spartan Planning & Wealth Management Makes New $1.37 Million Investment in JPMorgan Chase & Co. (NYSE:JPM)

Spartan Planning & Wealth Management bought a new stake in shares of JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, HoldingsChannel reports. The firm bought 5,727 shares of the financial services provider’s stock, valued at approximately $1,373,000. JPMorgan Chase & Co. makes up approximately 1.3% of Spartan Planning & Wealth Management’s holdings, making the stock its 22nd largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JPM. JPMorgan Chase & Co. boosted its position 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 valued at $938,491,000 after buying an additional 319,730 shares during the last quarter. Sageworth Trust Co boosted its holdings in shares of JPMorgan Chase & Co. by 37.9% during the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after acquiring an additional 786 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after acquiring an additional 2,839 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after purchasing an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its position in JPMorgan Chase & Co. by 2.5% during the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after purchasing an additional 267 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

JPMorgan Chase & Co. Price Performance

Shares of JPM traded up $3.91 during midday trading on Tuesday, hitting $244.76. 4,812,701 shares of the company traded hands, compared to its average volume of 8,318,754. JPMorgan Chase & Co. has a 52 week low of $164.30 and a 52 week high of $254.31. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50 day moving average of $240.05 and a 200-day moving average of $221.62. The stock has a market cap of $689.08 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 3.54 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Friday, October 11th. The financial services provider reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.35. The business had revenue of $43.32 billion during the quarter, compared to analysts’ expectations of $41.43 billion. JPMorgan Chase & Co. had a return on equity of 16.71% and a net margin of 19.64%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.33 EPS. On average, analysts forecast that JPMorgan Chase & Co. will post 17.62 EPS for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 27.82%.

Analysts Set New Price Targets

A number of brokerages have weighed in on JPM. Morgan Stanley lowered shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $220.00 to $224.00 in a research note on Monday, September 30th. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Evercore ISI increased their price objective on shares of JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup upped their price objective on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Oppenheimer cut JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $245.83.

About JPMorgan Chase & Co.

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.