Lorne Steinberg Wealth Management Inc. Has $6.63 Million Stake in JPMorgan Chase & Co. (NYSE:JPM)

Lorne Steinberg Wealth Management Inc. reduced its holdings in JPMorgan Chase & Co. (NYSE:JPM) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,949 shares of the financial services provider’s stock after selling 270 shares during the period. JPMorgan Chase & Co. accounts for about 2.2% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 14th largest holding. Lorne Steinberg Wealth Management Inc.’s holdings in JPMorgan Chase & Co. were worth $6,625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Greenwood Capital Associates LLC increased its stake in shares of JPMorgan Chase & Co. by 1.7% during the 3rd quarter. Greenwood Capital Associates LLC now owns 59,873 shares of the financial services provider’s stock worth $8,683,000 after purchasing an additional 1,007 shares during the last quarter. RDA Financial Network boosted its holdings in shares of JPMorgan Chase & Co. by 0.9% during the 3rd quarter. RDA Financial Network now owns 30,105 shares of the financial services provider’s stock worth $4,366,000 after buying an additional 266 shares during the period. Cascade Investment Group Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 2.0% during the 3rd quarter. Cascade Investment Group Inc. now owns 5,941 shares of the financial services provider’s stock worth $862,000 after buying an additional 115 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of JPMorgan Chase & Co. by 3.9% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 47,852 shares of the financial services provider’s stock worth $6,939,000 after buying an additional 1,801 shares during the period. Finally, Yoder Wealth Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 8.8% during the 3rd quarter. Yoder Wealth Management Inc. now owns 1,518 shares of the financial services provider’s stock worth $220,000 after buying an additional 123 shares during the period. 71.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the completion of the transaction, the insider now directly owns 44,956 shares in the company, valued at approximately $8,045,325.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Vice Chairman Peter Scher sold 1,810 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $178.96, for a total value of $323,917.60. Following the sale, the insider now directly owns 44,956 shares of the company’s stock, valued at approximately $8,045,325.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO James Dimon sold 178,222 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $184.18, for a total transaction of $32,824,927.96. Following the transaction, the chief executive officer now directly owns 264,461 shares in the company, valued at $48,708,426.98. The disclosure for this sale can be found here. Insiders sold a total of 1,020,696 shares of company stock worth $186,794,151 in the last three months. 0.79% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of JPMorgan Chase & Co. from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Bank of America lifted their target price on shares of JPMorgan Chase & Co. from $177.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Oppenheimer reduced their target price on shares of JPMorgan Chase & Co. from $219.00 to $217.00 and set an “outperform” rating for the company in a report on Monday, April 15th. BMO Capital Markets cut their price objective on shares of JPMorgan Chase & Co. from $196.00 to $195.00 and set a “market perform” rating for the company in a report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of JPMorgan Chase & Co. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $190.00 in a report on Tuesday, January 9th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.05.

JPMorgan Chase & Co. Stock Performance

Shares of JPMorgan Chase & Co. stock opened at $193.30 on Tuesday. The company has a 50 day moving average of $190.64 and a 200-day moving average of $171.25. JPMorgan Chase & Co. has a 1-year low of $131.81 and a 1-year high of $200.94. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 1.29. The company has a market cap of $555.17 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 2.43 and a beta of 1.15.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, April 5th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.38%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Thursday, April 4th. JPMorgan Chase & Co.’s dividend payout ratio is currently 27.78%.

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.