New Vernon Investment Management LLC Has $27.02 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

New Vernon Investment Management LLC raised its stake in JPMorgan Chase & Co. (NYSE:JPM) by 2,550.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,729 shares of the financial services provider’s stock after buying an additional 108,476 shares during the period. JPMorgan Chase & Co. comprises 16.3% of New Vernon Investment Management LLC’s holdings, making the stock its biggest holding. New Vernon Investment Management LLC’s holdings in JPMorgan Chase & Co. were worth $27,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of JPM. DDD Partners LLC boosted its stake in JPMorgan Chase & Co. by 2.8% in the 4th quarter. DDD Partners LLC now owns 1,416 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 38 shares during the period. Blue Bell Private Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 1.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 2,594 shares of the financial services provider’s stock valued at $622,000 after purchasing an additional 38 shares in the last quarter. Rappaport Reiches Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 3.8% during the fourth quarter. Rappaport Reiches Capital Management LLC now owns 1,068 shares of the financial services provider’s stock worth $256,000 after buying an additional 39 shares during the period. Yoder Wealth Management Inc. grew its holdings in shares of JPMorgan Chase & Co. by 2.8% during the fourth quarter. Yoder Wealth Management Inc. now owns 1,436 shares of the financial services provider’s stock worth $344,000 after buying an additional 39 shares in the last quarter. Finally, Almanack Investment Partners LLC. raised its position in JPMorgan Chase & Co. by 0.8% in the 4th quarter. Almanack Investment Partners LLC. now owns 5,143 shares of the financial services provider’s stock valued at $1,233,000 after buying an additional 39 shares during the last quarter. Institutional investors own 71.55% of the company’s stock.

Insider Activity at JPMorgan Chase & Co.

In related news, CEO Troy L. Rohrbaugh sold 37,500 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $269.84, for a total transaction of $10,119,000.00. Following the completion of the sale, the chief executive officer now directly owns 158,381 shares in the company, valued at $42,737,529.04. This represents a 19.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jennifer Piepszak sold 4,273 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $269.85, for a total transaction of $1,153,069.05. Following the completion of the sale, the chief operating officer now directly owns 54,469 shares in the company, valued at approximately $14,698,459.65. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,545 shares of company stock worth $19,149,144 in the last ninety days. 0.79% of the stock is owned by company insiders.

JPMorgan Chase & Co. Stock Up 1.6 %

Shares of NYSE JPM opened at $244.77 on Friday. The stock has a market capitalization of $681.19 billion, a P/E ratio of 12.40, a PEG ratio of 2.83 and a beta of 1.01. JPMorgan Chase & Co. has a one year low of $188.46 and a one year high of $280.25. The firm’s 50 day simple moving average is $241.63 and its two-hundred day simple moving average is $243.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.89.

JPMorgan Chase & Co. (NYSE:JPM) last released its earnings results on Friday, April 11th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.63 by $0.44. The company had revenue of $45.30 billion for the quarter, compared to analyst estimates of $43.62 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.44 EPS. As a group, analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Friday, April 4th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.25. JPMorgan Chase & Co.’s payout ratio is 27.49%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of JPMorgan Chase & Co. from a “hold” rating to a “sell” rating in a research note on Monday, April 14th. Robert W. Baird raised shares of JPMorgan Chase & Co. from an “underperform” rating to a “neutral” rating and upped their target price for the company from $215.00 to $220.00 in a report on Friday, March 7th. Baird R W upgraded JPMorgan Chase & Co. from a “strong sell” rating to a “hold” rating in a report on Friday, March 7th. Evercore ISI dropped their price objective on JPMorgan Chase & Co. from $273.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods boosted their target price on JPMorgan Chase & Co. from $257.00 to $264.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, JPMorgan Chase & Co. has a consensus rating of “Hold” and a consensus target price of $255.67.

About JPMorgan Chase & Co.

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.