Broadway Wealth Solutions Inc. Purchases Shares of 2,496 JPMorgan Chase & Co. (NYSE:JPM)

Broadway Wealth Solutions Inc. acquired a new position in shares of JPMorgan Chase & Co. (NYSE:JPM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,496 shares of the financial services provider’s stock, valued at approximately $598,000. JPMorgan Chase & Co. comprises 0.5% of Broadway Wealth Solutions Inc.’s holdings, making the stock its 22nd largest position.

Several other hedge funds also recently modified their holdings of the stock. New Age Alpha Advisors LLC grew its stake in shares of JPMorgan Chase & Co. by 81,509.4% in the fourth quarter. New Age Alpha Advisors LLC now owns 104,460 shares of the financial services provider’s stock valued at $25,040,000 after buying an additional 104,332 shares in the last quarter. Providence Capital Advisors LLC grew its position in shares of JPMorgan Chase & Co. by 1.2% in the 4th quarter. Providence Capital Advisors LLC now owns 42,816 shares of the financial services provider’s stock valued at $10,263,000 after acquiring an additional 505 shares during the period. Norges Bank acquired a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth about $8,310,884,000. Caisse Des Depots ET Consignations bought a new stake in shares of JPMorgan Chase & Co. in the 4th quarter valued at about $17,440,000. Finally, Rockbridge Investment Management LCC lifted its stake in JPMorgan Chase & Co. by 2.3% in the 4th quarter. Rockbridge Investment Management LCC now owns 1,838 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the transaction, the general counsel now directly owns 47,620 shares of the company’s stock, valued at approximately $12,092,622.80. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $270.09, for a total transaction of $337,612.50. Following the transaction, the insider now directly owns 50,377 shares in the company, valued at approximately $13,606,323.93. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,848 shares of company stock valued at $19,987,908 over the last 90 days. 0.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on JPM. Robert W. Baird upgraded JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $215.00 to $220.00 in a research note on Friday, March 7th. Evercore ISI cut their price target on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday. Truist Financial upped their price objective on shares of JPMorgan Chase & Co. from $260.00 to $268.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Wolfe Research upgraded shares of JPMorgan Chase & Co. from a “peer perform” rating to an “outperform” rating and set a $269.00 target price for the company in a research note on Friday, January 3rd. Finally, Barclays lifted their target price 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. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and an average price target of $254.83.

JPMorgan Chase & Co. Trading Down 0.7 %

Shares of JPM stock opened at $243.58 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $681.06 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.83 and a beta of 1.10. JPMorgan Chase & Co. has a twelve month low of $179.20 and a twelve month high of $280.25. The stock’s fifty day simple moving average is $256.88 and its 200 day simple moving average is $241.33.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The business had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. During the same quarter last year, the business earned $3.04 EPS. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts predict that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is 28.37%.

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.