Steele Capital Management Inc. Buys Shares of 8,760 JPMorgan Chase & Co. (NYSE:JPM)

Steele Capital Management Inc. bought a new stake in JPMorgan Chase & Co. (NYSE:JPM) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 8,760 shares of the financial services provider’s stock, valued at approximately $1,490,000.

Other institutional investors also recently bought and sold shares of the company. Morgan Stanley grew its position in shares of JPMorgan Chase & Co. by 0.3% during the third quarter. Morgan Stanley now owns 62,941,343 shares of the financial services provider’s stock worth $9,127,754,000 after buying an additional 201,441 shares in the last quarter. FMR LLC grew its position in shares of JPMorgan Chase & Co. by 1.2% during the third quarter. FMR LLC now owns 49,417,639 shares of the financial services provider’s stock worth $7,166,546,000 after buying an additional 606,382 shares in the last quarter. Wellington Management Group LLP grew its position in shares of JPMorgan Chase & Co. by 12.2% during the third quarter. Wellington Management Group LLP now owns 42,421,711 shares of the financial services provider’s stock worth $6,151,997,000 after buying an additional 4,603,090 shares in the last quarter. Northern Trust Corp grew its position in shares of JPMorgan Chase & Co. by 2.7% during the third quarter. Northern Trust Corp now owns 33,089,310 shares of the financial services provider’s stock worth $4,798,612,000 after buying an additional 871,091 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of JPMorgan Chase & Co. by 2.0% during the third quarter. Ameriprise Financial Inc. now owns 23,724,676 shares of the financial services provider’s stock worth $3,442,313,000 after buying an additional 457,184 shares in the last quarter. 71.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Lori A. Beer sold 3,920 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now owns 64,783 shares of the company’s stock, valued at $12,656,006.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Stacey Friedman sold 6,030 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.73, for a total transaction of $1,101,861.90. Following the transaction, the general counsel now owns 59,456 shares of the company’s stock, valued at $10,864,394.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lori A. Beer sold 3,920 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $195.36, for a total value of $765,811.20. Following the transaction, the insider now directly owns 64,783 shares in the company, valued at approximately $12,656,006.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,020,696 shares of company stock valued at $186,794,151. Company insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on JPM. Piper Sandler lowered their price objective on JPMorgan Chase & Co. from $220.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. Morgan Stanley decreased their target price on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, April 15th. BMO Capital Markets decreased their target price on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a research note on Monday, April 15th. Evercore ISI boosted their target price on JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Oppenheimer decreased their target price on JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Monday, April 15th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.05.

JPMorgan Chase & Co. Trading Down 0.6 %

NYSE:JPM opened at $190.51 on Monday. The firm has a market cap of $547.08 billion, a P/E ratio of 11.50, a PEG ratio of 2.39 and a beta of 1.13. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The stock’s 50 day simple moving average is $191.40 and its 200-day simple moving average is $172.49. JPMorgan Chase & Co. has a 12-month low of $131.81 and a 12-month high of $200.94.

JPMorgan Chase & Co. (NYSE:JPM) last released 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 business had revenue of $41.93 billion for the quarter, compared to analyst estimates of $40.90 billion. JPMorgan Chase & Co. had a return on equity of 17.79% and a net margin of 20.05%. Equities analysts anticipate that JPMorgan Chase & Co. will post 15.98 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th were issued a $1.15 dividend. The ex-dividend date was Thursday, April 4th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. JPMorgan Chase & Co.’s payout ratio is presently 27.78%.

JPMorgan Chase & Co. Company 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.