Corundum Group Inc. Acquires 3,190 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Corundum Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 31.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,323 shares of the financial services provider’s stock after acquiring an additional 3,190 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.2% of Corundum Group Inc.’s portfolio, making the stock its 19th largest position. Corundum Group Inc.’s holdings in JPMorgan Chase & Co. were worth $3,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JPM. JPMorgan Chase & Co. increased its position in JPMorgan Chase & Co. by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock valued at $938,491,000 after purchasing an additional 319,730 shares during the period. Sageworth Trust Co boosted its stake in shares of JPMorgan Chase & Co. by 37.9% in the 3rd quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 786 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of JPMorgan Chase & Co. by 2.5% during the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock worth $24,902,000 after buying an additional 2,839 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in JPMorgan Chase & Co. by 16.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock worth $143,594,000 after buying an additional 95,461 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its holdings in JPMorgan Chase & Co. by 2.5% in the third quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after buying an additional 267 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

JPMorgan Chase & Co. Stock Performance

Shares of JPM stock opened at $265.61 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. The firm has a 50-day moving average of $244.81 and a 200-day moving average of $225.56. JPMorgan Chase & Co. has a one year low of $168.86 and a one year high of $266.86. The company has a market cap of $747.79 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.83 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $4.81 EPS for the quarter, beating the consensus estimate 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 firm 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 posted $3.04 EPS. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts forecast that JPMorgan Chase & Co. will post 17.82 EPS for the current fiscal year.

JPMorgan Chase & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be given a $1.25 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $5.00 annualized dividend and a yield of 1.88%. JPMorgan Chase & Co.’s dividend payout ratio is currently 25.33%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JPM. Citigroup increased their price target on JPMorgan Chase & Co. from $215.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird lowered JPMorgan Chase & Co. from a “neutral” rating to an “underperform” rating and set a $200.00 price target on the stock. in a research note on Thursday, November 7th. Piper Sandler raised their price objective on shares of JPMorgan Chase & Co. from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on shares of JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Baird R W downgraded shares of JPMorgan Chase & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $251.78.

Insider Buying and Selling at JPMorgan Chase & Co.

In related news, General Counsel Stacey Friedman sold 3,303 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company’s stock.

JPMorgan Chase & Co. 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.