Rench Wealth Management Inc. Has $12.17 Million Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Rench Wealth Management Inc. lowered its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 50,768 shares of the financial services provider’s stock after selling 207 shares during the quarter. JPMorgan Chase & Co. makes up approximately 4.2% of Rench Wealth Management Inc.’s portfolio, making the stock its 5th largest holding. Rench Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $12,170,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in JPM. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at about $29,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the fourth quarter worth approximately $34,000. Investment Counsel Co. of Nevada purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $37,000. Midwest Capital Advisors LLC purchased a new position in shares of JPMorgan Chase & Co. during the 4th quarter worth $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robin Leopold sold 1,250 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $246.92, for a total transaction of $308,650.00. Following the sale, the insider now owns 49,127 shares in the company, valued at approximately $12,130,438.84. This represents a 2.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Troy L. Rohrbaugh sold 37,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.84, for a total value of $10,119,000.00. Following the completion of the sale, the chief executive officer now owns 158,381 shares of the company’s stock, valued at approximately $42,737,529.04. This represents a 19.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,848 shares of company stock valued at $19,987,908 in the last three months. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on JPM. Evercore ISI decreased their target price on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. Truist Financial lowered their price objective on JPMorgan Chase & Co. from $264.00 to $251.00 and set a “hold” rating on the stock in a research report on Monday. Keefe, Bruyette & Woods increased their target price on shares of JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Barclays raised their target price on shares of JPMorgan Chase & Co. from $304.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Baird R W upgraded shares of JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $254.11.

JPMorgan Chase & Co. Price Performance

NYSE:JPM opened at $234.23 on Tuesday. The business’s 50-day moving average is $248.17 and its 200 day moving average is $242.43. JPMorgan Chase & Co. has a 12 month low of $179.20 and a 12 month high of $280.25. The company has a market capitalization of $651.86 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.

JPMorgan Chase & Co. (NYSE:JPM) last issued its quarterly earnings data on Friday, April 11th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.44. The business had revenue of $45.30 billion for the quarter, compared to analysts’ expectations of $43.62 billion. JPMorgan Chase & Co. had a return on equity of 16.99% and a net margin of 20.96%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $4.44 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, April 4th. This represents a $5.60 annualized dividend and a yield of 2.39%. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is 27.49%.

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.