Hillsdale Investment Management Inc. Has $8.89 Million Holdings in JPMorgan Chase & Co. $JPM

Hillsdale Investment Management Inc. boosted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 368.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,652 shares of the financial services provider’s stock after purchasing an additional 24,110 shares during the period. Hillsdale Investment Management Inc.’s holdings in JPMorgan Chase & Co. were worth $8,886,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its stake in JPMorgan Chase & Co. by 609,867.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 72,897,211 shares of the financial services provider’s stock valued at $21,133,630,000 after acquiring an additional 72,885,260 shares in the last quarter. Nuveen LLC acquired a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at approximately $3,972,807,000. Montrusco Bolton Investments Inc. bought a new stake in shares of JPMorgan Chase & Co. in the second quarter worth $485,802,000. International Assets Investment Management LLC acquired a new position in JPMorgan Chase & Co. during the second quarter worth $458,104,000. Finally, National Bank of Canada FI grew its position in JPMorgan Chase & Co. by 44.4% in the first quarter. National Bank of Canada FI now owns 4,518,740 shares of the financial services provider’s stock valued at $1,108,415,000 after purchasing an additional 1,388,992 shares in the last quarter. 71.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on JPM. The Goldman Sachs Group reissued a “buy” rating and set a $366.00 price target on shares of JPMorgan Chase & Co. in a research report on Tuesday, October 14th. Morgan Stanley upped their target price on JPMorgan Chase & Co. from $336.00 to $338.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Truist Financial increased their price target on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the company a “hold” rating in a research report on Tuesday, September 23rd. Citigroup boosted their price target on JPMorgan Chase & Co. from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Finally, Barclays upped their price objective on JPMorgan Chase & Co. from $330.00 to $342.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Fifteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $326.38.

JPMorgan Chase & Co. Stock Performance

JPM stock opened at $313.26 on Friday. The stock has a 50-day moving average price of $306.89 and a 200-day moving average price of $293.04. JPMorgan Chase & Co. has a 1-year low of $202.16 and a 1-year high of $322.25. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The firm has a market cap of $852.78 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 EPS for the quarter, beating the consensus estimate of $4.83 by $0.24. The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $44.42 billion. JPMorgan Chase & Co. had a return on equity of 17.18% and a net margin of 20.90%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.37 EPS. As a group, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, October 6th. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. JPMorgan Chase & Co.’s dividend payout ratio is presently 29.72%.

Insider Buying and Selling at JPMorgan Chase & Co.

In other news, insider Robin Leopold sold 966 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $311.92, for a total transaction of $301,314.72. Following the transaction, the insider owned 58,479 shares in the company, valued at approximately $18,240,769.68. This represents a 1.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total value of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares of the company’s stock, valued at approximately $24,492,753.58. This represents a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. 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.