Journey Strategic Wealth LLC Increases Stake in JPMorgan Chase & Co. $JPM

Journey Strategic Wealth LLC lifted its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 32.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,572 shares of the financial services provider’s stock after acquiring an additional 8,693 shares during the period. JPMorgan Chase & Co. makes up approximately 0.3% of Journey Strategic Wealth LLC’s portfolio, making the stock its 26th largest position. Journey Strategic Wealth LLC’s holdings in JPMorgan Chase & Co. were worth $10,313,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JPM. Brighton Jones LLC grew its stake in shares of JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider’s stock worth $11,682,000 after acquiring an additional 4,841 shares during the period. Acorns Advisers LLC grew its position in JPMorgan Chase & Co. by 6.9% in the 1st quarter. Acorns Advisers LLC now owns 1,547 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC grew its position in JPMorgan Chase & Co. by 28.0% in the 1st quarter. HB Wealth Management LLC now owns 219,144 shares of the financial services provider’s stock worth $53,756,000 after purchasing an additional 47,905 shares during the period. TD Asset Management Inc raised its stake in JPMorgan Chase & Co. by 2.2% during the 1st quarter. TD Asset Management Inc now owns 5,068,154 shares of the financial services provider’s stock valued at $1,243,218,000 after buying an additional 108,675 shares during the last quarter. Finally, Brown Wealth Management LLC lifted its holdings in shares of JPMorgan Chase & Co. by 2.4% during the 1st quarter. Brown Wealth Management LLC now owns 2,360 shares of the financial services provider’s stock valued at $579,000 after buying an additional 55 shares during the period. 71.55% of the stock is owned by institutional investors.

JPMorgan Chase & Co. Trading Up 1.8%

JPMorgan Chase & Co. stock opened at $313.26 on Friday. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $322.25. The firm has a market capitalization of $852.78 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 1.84 and a beta of 1.14. The firm has a 50 day moving average of $306.89 and a 200 day moving average of $293.25. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

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

JPMorgan Chase & Co. Increases Dividend

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

Insiders Place Their Bets

In related news, Director Linda Bammann sold 9,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director owned 82,207 shares in the company, valued at approximately $24,492,753.58. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robin Leopold sold 966 shares of the 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 directly owned 58,479 shares of the company’s stock, valued at $18,240,769.68. This trade represents a 1.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group upped their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Evercore ISI upped their price target on shares of JPMorgan Chase & Co. from $309.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Wells Fargo & Company increased their price objective on shares of JPMorgan Chase & Co. from $345.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Keefe, Bruyette & Woods raised their price objective on shares of JPMorgan Chase & Co. from $330.00 to $354.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Finally, TD Cowen upped their target price on shares of JPMorgan Chase & Co. from $350.00 to $370.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Fifteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $326.38.

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.