Innova Wealth Partners Takes $422,000 Position in JPMorgan Chase & Co. (NYSE:JPM)

Innova Wealth Partners bought a new position in JPMorgan Chase & Co. (NYSE:JPM) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,760 shares of the financial services provider’s stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of JPM. One Wealth Capital Management LLC purchased a new stake in JPMorgan Chase & Co. during the 4th quarter valued at $210,000. Norway Savings Bank grew its holdings in shares of JPMorgan Chase & Co. by 0.7% during the 4th quarter. Norway Savings Bank now owns 22,260 shares of the financial services provider’s stock worth $5,336,000 after acquiring an additional 151 shares during the period. Rise Advisors LLC grew its stake in JPMorgan Chase & Co. by 2.3% in the fourth quarter. Rise Advisors LLC now owns 3,256 shares of the financial services provider’s stock worth $780,000 after purchasing an additional 73 shares during the period. Spartan Planning & Wealth Management bought a new position in shares of JPMorgan Chase & Co. in the 4th quarter worth about $1,373,000. Finally, Regent Peak Wealth Advisors LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.3% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 6,517 shares of the financial services provider’s stock valued at $1,562,000 after purchasing an additional 148 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on JPM shares. Baird R W lowered JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 7th. Evercore ISI raised their price target on JPMorgan Chase & Co. from $217.00 to $230.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Piper Sandler boosted their target price on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut shares of JPMorgan Chase & Co. from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $220.00 to $224.00 in a research note on Monday, September 30th. Finally, Citigroup increased their target price on shares of JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $245.83.

JPMorgan Chase & Co. Stock Performance

NYSE JPM opened at $243.16 on Wednesday. The stock has a market capitalization of $684.58 billion, a PE ratio of 13.53, a P/E/G ratio of 3.54 and a beta of 1.11. JPMorgan Chase & Co. has a 1-year low of $164.30 and a 1-year high of $254.31. The business has a 50 day simple moving average of $240.46 and a two-hundred day simple moving average of $221.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.89 and a quick ratio of 0.89.

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

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s dividend payout ratio is 27.82%.

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.