King Wealth Management Group Has $13.15 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

King Wealth Management Group cut its position in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,334 shares of the financial services provider’s stock after selling 1,282 shares during the quarter. JPMorgan Chase & Co. makes up about 2.5% of King Wealth Management Group’s holdings, making the stock its 12th biggest position. King Wealth Management Group’s holdings in JPMorgan Chase & Co. were worth $13,154,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of JPM. Curbstone Financial Management Corp boosted its stake in JPMorgan Chase & Co. by 0.3% during the 4th quarter. Curbstone Financial Management Corp now owns 23,930 shares of the financial services provider’s stock worth $4,070,000 after acquiring an additional 60 shares during the last quarter. Grey Street Capital LLC raised its holdings in JPMorgan Chase & Co. by 0.9% in the fourth quarter. Grey Street Capital LLC now owns 6,994 shares of the financial services provider’s stock worth $1,190,000 after purchasing an additional 60 shares during the period. Financial Management Network Inc. boosted its position in shares of JPMorgan Chase & Co. by 0.8% during the fourth quarter. Financial Management Network Inc. now owns 7,523 shares of the financial services provider’s stock worth $1,296,000 after purchasing an additional 61 shares in the last quarter. Sendero Wealth Management LLC grew its holdings in shares of JPMorgan Chase & Co. by 1.1% in the 4th quarter. Sendero Wealth Management LLC now owns 5,811 shares of the financial services provider’s stock valued at $988,000 after buying an additional 62 shares during the period. Finally, Raleigh Capital Management Inc. increased its position in shares of JPMorgan Chase & Co. by 0.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 8,151 shares of the financial services provider’s stock valued at $1,182,000 after buying an additional 64 shares in the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In other JPMorgan Chase & Co. news, insider Lori A. Beer sold 3,920 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.74, for a total transaction of $716,340.80. Following the sale, the insider now directly owns 44,996 shares of the company’s stock, valued at $8,222,569.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Marianne Lake sold 11,734 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $200.02, for a total value of $2,347,034.68. Following the completion of the sale, the chief executive officer now directly owns 122,740 shares in the company, valued at $24,550,454.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Lori A. Beer sold 3,920 shares of JPMorgan Chase & Co. stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.74, for a total transaction of $716,340.80. Following the transaction, the insider now directly owns 44,996 shares of the company’s stock, valued at $8,222,569.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,071,414 shares of company stock valued at $196,746,504. Insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. Stock Performance

Shares of JPM opened at $204.79 on Friday. The stock has a market cap of $588.09 billion, a P/E ratio of 12.37, a P/E/G ratio of 2.49 and a beta of 1.13. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.29. JPMorgan Chase & Co. has a 52 week low of $134.40 and a 52 week high of $205.05. The business’s 50 day moving average price is $193.84 and its 200-day moving average price is $176.07.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Friday, April 12th. The financial services provider reported $4.63 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $0.45. JPMorgan Chase & Co. had a net margin of 20.05% and a return on equity of 17.79%. The business had revenue of $41.93 billion during the quarter, compared to analyst estimates of $40.90 billion. Equities research analysts anticipate that JPMorgan Chase & Co. will post 16.22 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Friday, April 5th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.25%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date was Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 27.78%.

Analysts Set New Price Targets

Several research analysts have weighed in on JPM shares. BMO Capital Markets reduced their target price on JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating on the stock in a report on Monday, April 15th. Morgan Stanley decreased their price objective on JPMorgan Chase & Co. from $221.00 to $216.00 and set an “overweight” rating for the company in a research report on Monday, April 15th. UBS Group dropped their target price on shares of JPMorgan Chase & Co. from $226.00 to $219.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Keefe, Bruyette & Woods upped their price objective on JPMorgan Chase & Co. from $182.00 to $195.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Finally, Evercore ISI boosted their price target on shares of JPMorgan Chase & Co. from $188.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $192.05.

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.