McGowan Group Asset Management Inc. increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 36.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,112 shares of the financial services provider’s stock after acquiring an additional 836 shares during the quarter. McGowan Group Asset Management Inc.’s holdings in JPMorgan Chase & Co. were worth $453,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of JPM. Cantor Fitzgerald Investment Advisor L.P raised its holdings in JPMorgan Chase & Co. by 81.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 222,422 shares of the financial services provider’s stock worth $30,321,000 after purchasing an additional 99,636 shares during the period. BCK Partners Inc. acquired a new stake in JPMorgan Chase & Co. in the first quarter worth $2,455,000. LSV Asset Management raised its holdings in JPMorgan Chase & Co. by 35.6% in the first quarter. LSV Asset Management now owns 37,300 shares of the financial services provider’s stock worth $5,085,000 after purchasing an additional 9,800 shares during the period. Wsfs Capital Management LLC raised its holdings in JPMorgan Chase & Co. by 70.8% in the first quarter. Wsfs Capital Management LLC now owns 4,221 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 1,749 shares during the period. Finally, Lumature Wealth Partners LLC raised its holdings in JPMorgan Chase & Co. by 1,451.4% in the first quarter. Lumature Wealth Partners LLC now owns 3,770 shares of the financial services provider’s stock worth $514,000 after purchasing an additional 3,527 shares during the period. 68.94% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have weighed in on JPM. Oppenheimer increased their target price on shares of JPMorgan Chase & Co. from $233.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, November 16th. Piper Sandler boosted their price objective on shares of JPMorgan Chase & Co. from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Odeon Capital Group cut shares of JPMorgan Chase & Co. from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $158.00 price objective on shares of JPMorgan Chase & Co. in a research report on Friday, September 8th. Nine investment 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. presently has a consensus rating of “Moderate Buy” and an average target price of $168.80.
JPMorgan Chase & Co. Stock Up 0.3 %
JPMorgan Chase & Co. stock opened at $153.29 on Tuesday. 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. The company’s 50-day moving average is $145.23 and its 200-day moving average is $145.34. JPMorgan Chase & Co. has a fifty-two week low of $123.11 and a fifty-two week high of $159.38. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.90 and a quick ratio of 0.90.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) 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 company had revenue of $40.69 billion for the quarter, compared to analyst estimates of $39.63 billion. JPMorgan Chase & Co. had a net margin of 22.79% and a return on equity of 17.97%. JPMorgan Chase & Co.’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.12 EPS. Sell-side analysts anticipate that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders 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 is a positive change from JPMorgan Chase & Co.’s previous quarterly dividend of $1.00. This represents a $4.20 annualized dividend and a dividend yield of 2.74%. JPMorgan Chase & Co.’s payout ratio is currently 25.07%.
Insider Transactions at JPMorgan Chase & Co.
In related news, General Counsel Stacey Friedman sold 4,310 shares of JPMorgan Chase & Co. stock in a transaction dated 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 sale, the general counsel now owns 53,425 shares of the company’s stock, valued at approximately $7,739,145.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.79% of the stock is owned by company insiders.
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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