Sheets Smith Wealth Management Increases Stock Holdings in JPMorgan Chase & Co. (NYSE:JPM)


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Sheets Smith Wealth Management raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,855 shares of the financial services provider’s stock after purchasing an additional 1,754 shares during the period. Sheets Smith Wealth Management’s holdings in JPMorgan Chase & Co. were worth $3,667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacifica Partners Inc. grew its position in shares of JPMorgan Chase & Co. by 12.4% during the fourth quarter. Pacifica Partners Inc. now owns 19,140 shares of the financial services provider’s stock worth $2,400,000 after acquiring an additional 2,118 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of JPMorgan Chase & Co. by 58.9% during the third quarter. CIBC Private Wealth Group LLC now owns 4,546,922 shares of the financial services provider’s stock worth $437,636,000 after acquiring an additional 1,685,017 shares during the last quarter. IBM Retirement Fund grew its position in shares of JPMorgan Chase & Co. by 36.7% during the third quarter. IBM Retirement Fund now owns 103,214 shares of the financial services provider’s stock worth $9,936,000 after acquiring an additional 27,691 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of JPMorgan Chase & Co. by 22.2% during the fourth quarter. Louisiana State Employees Retirement System now owns 189,200 shares of the financial services provider’s stock worth $24,042,000 after acquiring an additional 34,400 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of JPMorgan Chase & Co. by 1.4% during the third quarter. Handelsbanken Fonder AB now owns 710,299 shares of the financial services provider’s stock worth $68,380,000 after acquiring an additional 9,494 shares during the last quarter. Institutional investors and hedge funds own 62.92% of the company’s stock.

NYSE:JPM opened at $140.35 on Thursday. The company has a market capitalization of $427.82 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 3.20 and a beta of 1.22. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.16. JPMorgan Chase & Co. has a 52-week low of $76.91 and a 52-week high of $141.66. The stock has a fifty day simple moving average of $124.63 and a 200-day simple moving average of $106.64.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings results on Monday, October 19th. The financial services provider reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.69. The business had revenue of $29.90 billion during the quarter, compared to the consensus estimate of $28.20 billion. JPMorgan Chase & Co. had a return on equity of 10.85% and a net margin of 19.16%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.68 EPS. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 7.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 31st. Investors of record on Wednesday, January 6th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, January 5th. JPMorgan Chase & Co.’s dividend payout ratio is presently 34.35%.

Several equities research analysts recently weighed in on the company. Barclays increased their price target on JPMorgan Chase & Co. from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Monday, January 4th. Royal Bank of Canada increased their price target on JPMorgan Chase & Co. from $110.00 to $130.00 in a report on Wednesday, December 9th. Keefe, Bruyette & Woods downgraded JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $125.00 to $130.00 in a report on Wednesday, November 18th. Daiwa Capital Markets assumed coverage on JPMorgan Chase & Co. in a report on Wednesday, January 6th. They set an “outperform” rating and a $139.00 price target for the company. Finally, BMO Capital Markets increased their price target on JPMorgan Chase & Co. from $117.00 to $119.00 and gave the stock a “market perform” rating in a report on Wednesday, October 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $121.51.

In related news, CFO Jennifer Piepszak sold 3,297 shares of JPMorgan Chase & Co. stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $101.11, for a total transaction of $333,359.67. Also, EVP Marianne Lake sold 15,808 shares of JPMorgan Chase & Co. stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $120.01, for a total value of $1,897,118.08. In the last quarter, insiders have sold 21,386 shares of company stock valued at $2,460,813. 0.78% of the stock is currently owned by company insiders.

JPMorgan Chase & Co. Profile

JPMorgan Chase & Co operates as a financial services company worldwide. It operates in four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services.

See Also: Certificate of Deposit (CD)

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

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