IVC Wealth Advisors LLC lifted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the second quarter, Holdings Channel.com reports. The fund owned 3,327 shares of the financial services provider’s stock after acquiring an additional 53 shares during the quarter. IVC Wealth Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $965,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $28,000. University of Illinois Foundation bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $30,000. Ryan Investment Management Inc. bought a new position in shares of JPMorgan Chase & Co. during the second quarter worth about $37,000. Christopher J. Hasenberg Inc raised its position in shares of JPMorgan Chase & Co. by 212.0% during the second quarter. Christopher J. Hasenberg Inc now owns 156 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new position in shares of JPMorgan Chase & Co. during the first quarter worth about $76,000. 71.55% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on JPM shares. Piper Sandler reiterated an “overweight” rating on shares of JPMorgan Chase & Co. in a report on Tuesday, July 15th. Truist Financial lifted their target price on JPMorgan Chase & Co. from $290.00 to $319.00 and gave the stock a “hold” rating in a report on Tuesday, September 23rd. HSBC reiterated a “reduce” rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a report on Tuesday, July 8th. Evercore ISI lifted their target price on JPMorgan Chase & Co. from $309.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Finally, Wells Fargo & Company lifted their target price on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the stock an “overweight” rating in a report on Tuesday, September 16th. Fifteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, JPMorgan Chase & Co. presently has an average rating of “Hold” and an average price target of $316.00.
JPMorgan Chase & Co. Trading Down 1.4%
Shares of JPMorgan Chase & Co. stock opened at $301.12 on Monday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.88 and a current ratio of 0.88. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $318.01. The stock has a 50 day moving average price of $301.61 and a two-hundred day moving average price of $276.98. The stock has a market capitalization of $828.00 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.13.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%.The firm had revenue of $44.91 billion during the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter last year, the firm posted $6.12 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, October 6th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.0%. This is a boost from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Monday, October 6th. JPMorgan Chase & Co.’s payout ratio is 30.79%.
Insider Buying and Selling
In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was 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 trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.47% of the company’s stock.
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.
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