Cary Street Partners Investment Advisory LLC Has $9.83 Million Position in JPMorgan Chase & Co. (NYSE:JPM)

Cary Street Partners Investment Advisory LLC raised its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 15.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,591 shares of the financial services provider’s stock after purchasing an additional 9,000 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in JPMorgan Chase & Co. were worth $9,830,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Atlas Private Wealth Management boosted its holdings in shares of JPMorgan Chase & Co. by 11.7% during the 2nd quarter. Atlas Private Wealth Management now owns 27,106 shares of the financial services provider’s stock valued at $3,942,000 after acquiring an additional 2,834 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of JPMorgan Chase & Co. by 4.4% in the second quarter. Checchi Capital Advisers LLC now owns 39,447 shares of the financial services provider’s stock valued at $5,737,000 after buying an additional 1,652 shares during the period. Geneos Wealth Management Inc. boosted its position in JPMorgan Chase & Co. by 14.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 50,991 shares of the financial services provider’s stock worth $7,416,000 after buying an additional 6,264 shares during the period. Cibc World Markets Corp increased its position in JPMorgan Chase & Co. by 61.6% in 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 acquiring an additional 416,194 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 68.94% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction that occurred on 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 owns 53,425 shares of the company’s stock, valued at $7,739,145.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.79% of the company’s stock.

Analyst Ratings Changes

JPM has been the topic of a number of analyst reports. Atlantic Securities upped their price target 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. BMO Capital Markets increased their target price on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a research report on Monday, October 16th. Morgan Stanley boosted their price target on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Evercore ISI upped their price objective on shares of JPMorgan Chase & Co. from $158.00 to $167.00 in a research note on Thursday, October 5th. Finally, Piper Sandler lifted their target price on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, JPMorgan Chase & Co. has an average rating of “Moderate Buy” and a consensus target price of $168.80.

JPMorgan Chase & Co. Price Performance

Shares of JPM opened at $153.29 on Tuesday. The business’s fifty day moving average is $145.23 and its 200 day moving average is $145.34. JPMorgan Chase & Co. has a 12-month low of $123.11 and a 12-month high of $159.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.25. The stock has a market cap of $443.16 billion, a P/E ratio of 9.15, a P/E/G ratio of 1.80 and a beta of 1.12.

JPMorgan Chase & Co. (NYSE:JPM) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.38. The firm had revenue of $40.69 billion for the quarter, compared to the consensus estimate of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. The business’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.12 earnings per share. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.67 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $4.20 dividend on an annualized basis and a yield of 2.74%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. JPMorgan Chase & Co.’s payout ratio is 25.07%.

JPMorgan Chase & Co. Company 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.