Blume Capital Management Inc. boosted its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 1.0% in the second quarter, Holdings Channel reports. The firm owned 27,220 shares of the financial services provider’s stock after acquiring an additional 258 shares during the period. Blume Capital Management Inc.’s holdings in JPMorgan Chase & Co. were worth $3,959,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of JPMorgan Chase & Co. by 97,681.8% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,056,747,063 shares of the financial services provider’s stock worth $299,133,293,000 after purchasing an additional 2,054,643,659 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in JPMorgan Chase & Co. by 105,652.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 98,000,567 shares of the financial services provider’s stock worth $13,141,876,000 after buying an additional 97,907,897 shares during the period. Morgan Stanley lifted its holdings in shares of JPMorgan Chase & Co. by 15.9% during the fourth quarter. Morgan Stanley now owns 59,049,256 shares of the financial services provider’s stock worth $7,918,506,000 after buying an additional 8,088,433 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of JPMorgan Chase & Co. by 2.1% in the first quarter. Geode Capital Management LLC now owns 52,310,456 shares of the financial services provider’s stock valued at $6,801,125,000 after acquiring an additional 1,061,831 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of JPMorgan Chase & Co. by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,769,523 shares of the financial services provider’s stock valued at $4,270,198,000 after acquiring an additional 2,285,429 shares during the period. Institutional investors and hedge funds own 68.94% of the company’s stock.
Analyst Ratings Changes
JPM has been the topic of a number of research reports. Oppenheimer boosted their target price on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the stock an “outperform” rating in a research report on Thursday, November 16th. Jefferies Financial Group cut their price objective on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research report on Tuesday, October 10th. Atlantic Securities increased their target price on shares of JPMorgan Chase & Co. from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. Piper Sandler boosted their price target on JPMorgan Chase & Co. from $168.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday, October 16th. Finally, Odeon Capital Group downgraded JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research report on Thursday, November 2nd. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.80.
Insider Activity at JPMorgan Chase & Co.
In other JPMorgan Chase & Co. news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $144.86, for a total transaction of $624,346.60. Following the transaction, the general counsel now directly owns 53,425 shares in the company, valued at $7,739,145.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.79% of the stock is owned by corporate insiders.
JPMorgan Chase & Co. Stock Up 0.3 %
Shares of JPMorgan Chase & Co. stock opened at $153.29 on Tuesday. The business has a fifty day simple moving average of $145.23 and a 200 day simple moving average of $145.34. The stock has a market cap of $443.16 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 1.80 and a beta of 1.12. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 12 month low of $123.11 and a 12 month high of $159.38.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last announced its quarterly earnings results on Friday, October 13th. The financial services provider reported $4.33 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.38. The company had revenue of $40.69 billion during the quarter, compared to analysts’ expectations of $39.63 billion. JPMorgan Chase & Co. had a return on equity of 17.97% and a net margin of 22.79%. JPMorgan Chase & Co.’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.12 EPS. Research analysts predict that JPMorgan Chase & Co. will post 16.67 EPS for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 6th were issued a $1.05 dividend. This is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $4.20 annualized dividend and a dividend yield of 2.74%. JPMorgan Chase & Co.’s payout ratio is 25.07%.
About JPMorgan Chase & Co.
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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