Hoey Investments Inc. Grows Position in JPMorgan Chase & Co. (NYSE:JPM)

Hoey Investments Inc. boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 40.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 36,396 shares of the financial services provider’s stock after purchasing an additional 10,517 shares during the period. JPMorgan Chase & Co. makes up about 1.5% of Hoey Investments Inc.’s holdings, making the stock its 9th biggest holding. Hoey Investments Inc.’s holdings in JPMorgan Chase & Co. were worth $8,724,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of JPM. Principal Financial Group Inc. lifted its position in JPMorgan Chase & Co. by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 5,824,289 shares of the financial services provider’s stock valued at $1,228,110,000 after acquiring an additional 182,648 shares in the last quarter. United Bank raised its stake in shares of JPMorgan Chase & Co. by 2.5% in the third quarter. United Bank now owns 25,354 shares of the financial services provider’s stock worth $5,346,000 after purchasing an additional 614 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of JPMorgan Chase & Co. by 13.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 42,511 shares of the financial services provider’s stock valued at $8,964,000 after purchasing an additional 5,152 shares in the last quarter. Resurgent Financial Advisors LLC boosted its position in shares of JPMorgan Chase & Co. by 1.0% during the third quarter. Resurgent Financial Advisors LLC now owns 20,535 shares of the financial services provider’s stock valued at $4,330,000 after buying an additional 210 shares during the last quarter. Finally, Redwood Investment Management LLC increased its holdings in JPMorgan Chase & Co. by 104.7% in the 3rd quarter. Redwood Investment Management LLC now owns 3,969 shares of the financial services provider’s stock worth $837,000 after buying an additional 2,030 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

JPMorgan Chase & Co. Trading Down 7.0 %

JPM stock opened at $228.60 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89. JPMorgan Chase & Co. has a 1-year low of $179.20 and a 1-year high of $280.25. The business has a 50 day simple moving average of $255.80 and a two-hundred day simple moving average of $241.27. The company has a market capitalization of $639.18 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.83 and a beta of 1.10.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.78. The company had revenue of $42.77 billion during the quarter, compared to analysts’ expectations of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company posted $3.04 earnings per share. Research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.45%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 4th. JPMorgan Chase & Co.’s payout ratio is 28.37%.

Wall Street Analyst Weigh In

Several research firms have issued reports on JPM. Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research note on Friday, March 7th. Evercore ISI dropped their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wolfe Research upgraded JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 price objective for the company in a research report on Friday, January 3rd. Barclays raised their price objective on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Robert W. Baird upgraded shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $215.00 to $220.00 in a research report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.06.

Insider Buying and Selling

In related news, COO Jennifer Piepszak sold 4,272 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $247.03, for a total value of $1,055,312.16. Following the sale, the chief operating officer now owns 50,197 shares in the company, valued at approximately $12,400,164.91. The trade was a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now directly owns 49,127 shares in the company, valued at approximately $12,130,438.84. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,848 shares of company stock worth $19,987,908. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.