J.P. Marvel Investment Advisors LLC trimmed its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,161 shares of the financial services provider’s stock after selling 434 shares during the quarter. JPMorgan Chase & Co. accounts for 3.4% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 8th largest holding. J.P. Marvel Investment Advisors LLC’s holdings in JPMorgan Chase & Co. were worth $16,167,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Atlas Private Wealth Management boosted its position in JPMorgan Chase & Co. by 11.7% in the second quarter. Atlas Private Wealth Management now owns 27,106 shares of the financial services provider’s stock valued at $3,942,000 after buying an additional 2,834 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of JPMorgan Chase & Co. by 4.4% in the 2nd quarter. Checchi Capital Advisers LLC now owns 39,447 shares of the financial services provider’s stock worth $5,737,000 after acquiring an additional 1,652 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of JPMorgan Chase & Co. by 14.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 50,991 shares of the financial services provider’s stock worth $7,416,000 after acquiring an additional 6,264 shares in the last quarter. Cibc World Markets Corp increased its holdings in JPMorgan Chase & Co. by 61.6% during the 2nd quarter. Cibc World Markets Corp now owns 1,092,289 shares of the financial services provider’s stock valued at $158,863,000 after purchasing an additional 416,194 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in JPMorgan Chase & Co. by 46.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 43,526 shares of the financial services provider’s stock worth $5,612,000 after purchasing an additional 13,792 shares in the last quarter. 68.94% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on JPM. HSBC began coverage on shares of JPMorgan Chase & Co. in a research report on Thursday, September 7th. They set a “hold” rating and a $159.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $158.00 price target on shares of JPMorgan Chase & Co. in a research note on Friday, September 8th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Atlantic Securities increased their price objective on JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, August 1st. Finally, Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.80.
Insider Buying and Selling at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $144.86, for a total transaction of $624,346.60. Following the completion of the transaction, the general counsel now directly owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.79% of the company’s stock.
JPMorgan Chase & Co. Price Performance
Shares of JPM opened at $153.29 on Tuesday. The stock has a 50 day simple moving average of $145.23 and a 200 day simple moving average of $145.34. JPMorgan Chase & Co. has a 52-week low of $123.11 and a 52-week high of $159.38. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $443.16 billion, a PE ratio of 9.15, a P/E/G ratio of 1.80 and a beta of 1.12.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.38. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The company had revenue of $40.69 billion during the quarter, compared to the consensus estimate of $39.63 billion. During the same quarter in the prior year, the firm earned $3.12 earnings per share. The firm’s revenue was up 24.4% compared to the same quarter last year. Sell-side analysts predict that JPMorgan Chase & Co. will post 16.67 EPS for the current fiscal year.
JPMorgan Chase & Co. Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Thursday, October 5th. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is currently 25.07%.
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 to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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