33,575 Shares in JPMorgan Chase & Co. (NYSE:JPM) Purchased by Magnolia Wealth Management LLC

view original post

Magnolia Wealth Management LLC acquired a new position in JPMorgan Chase & Co. (NYSE:JPMGet Rating) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,575 shares of the financial services provider’s stock, valued at approximately $4,832,000. JPMorgan Chase & Co. accounts for approximately 0.1% of Magnolia Wealth Management LLC’s investment portfolio, making the stock its 26th biggest holding.

Several other institutional investors have also bought and sold shares of JPM. Joseph Group Capital Management acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $1,353,000. Carolina Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 176.5% in the 4th quarter. Carolina Wealth Advisors LLC now owns 235 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 150 shares during the last quarter. Evolution Advisers Inc. acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $52,000. Leverty Financial Group LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at about $54,000. Finally, Delos Wealth Advisors LLC lifted its holdings in JPMorgan Chase & Co. by 13,433.3% in the 4th quarter. Delos Wealth Advisors LLC now owns 406 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 403 shares during the last quarter. Institutional investors and hedge funds own 70.35% of the company’s stock.

Insider Buying and Selling

In related news, insider Ashley Bacon sold 21,012 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $130.04, for a total value of $2,732,400.48. Following the transaction, the insider now owns 178,588 shares in the company, valued at $23,223,583.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $112.95 on Monday. The company has a market capitalization of $331.74 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 2.00 and a beta of 1.15. JPMorgan Chase & Co. has a fifty-two week low of $106.06 and a fifty-two week high of $172.96. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.83 and a quick ratio of 0.82. The business’s 50-day moving average is $119.34 and its 200-day moving average is $134.17.

JPMorgan Chase & Co. (NYSE:JPMGet Rating) last released its quarterly earnings data on Thursday, July 14th. The financial services provider reported $2.76 EPS for the quarter, hitting analysts’ consensus estimates of $2.76. JPMorgan Chase & Co. had a return on equity of 15.29% and a net margin of 30.41%. The firm had revenue of $30.72 billion for the quarter, compared to the consensus estimate of $31.82 billion. During the same quarter in the prior year, the company posted $3.78 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Equities research analysts expect that JPMorgan Chase & Co. will post 11.26 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Investors of record on Wednesday, July 6th will be issued a $1.00 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $4.00 dividend on an annualized basis and a yield of 3.54%. JPMorgan Chase & Co.’s dividend payout ratio is currently 32.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays set a $200.00 price target on shares of JPMorgan Chase & Co. in a report on Monday. UBS Group reduced their price objective on shares of JPMorgan Chase & Co. from $134.00 to $126.00 and set a “buy” rating for the company in a research note on Friday. StockNews.com initiated coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, March 31st. They set a “hold” rating for the company. BMO Capital Markets upped their price objective on shares of JPMorgan Chase & Co. from $150.00 to $156.00 in a research note on Tuesday, May 24th. Finally, Evercore ISI reduced their price objective on shares of JPMorgan Chase & Co. from $135.00 to $125.00 in a research note on Friday. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $145.95.

JPMorgan Chase & Co. Profile

(Get Rating)

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 s deposit, investment and lending products, payments, 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, auto loan, and leasing services.

Further Reading

Receive News & Ratings for JPMorgan Chase & Co. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for JPMorgan Chase & Co. and related companies with MarketBeat.com’s FREE daily email newsletter.