Quadrant Capital Group LLC boosted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,769 shares of the financial services provider’s stock after acquiring an additional 338 shares during the quarter. JPMorgan Chase & Co. accounts for 0.6% of Quadrant Capital Group LLC’s portfolio, making the stock its 24th largest position. Quadrant Capital Group LLC’s holdings in JPMorgan Chase & Co. were worth $6,075,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordwand Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $30,000. Sageworth Trust Co increased its stake in JPMorgan Chase & Co. by 266.7% in the 1st quarter. Sageworth Trust Co now owns 407 shares of the financial services provider’s stock valued at $53,000 after buying an additional 296 shares during the last quarter. Robbins Farley increased its stake in JPMorgan Chase & Co. by 54.2% in the 1st quarter. Robbins Farley now owns 475 shares of the financial services provider’s stock valued at $62,000 after buying an additional 167 shares during the last quarter. Miller Wealth Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 2nd quarter valued at $67,000. Finally, Guardian Wealth Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 1st quarter valued at $70,000. 68.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at JPMorgan Chase & Co.
In other news, General Counsel Stacey Friedman sold 4,310 shares of the company’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 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 SEC, which is accessible through this hyperlink. 0.79% of the stock is currently owned by insiders.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $4.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.95 by $0.38. The firm had revenue of $40.69 billion during 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 for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.12 EPS. Analysts anticipate that JPMorgan Chase & Co. will post 16.67 earnings per share for the current year.
JPMorgan Chase & Co. Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were issued a $1.05 dividend. 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 currently 25.07%.
Wall Street Analysts Forecast Growth
JPM has been the topic of several recent research reports. BMO Capital Markets lifted their price target on shares of JPMorgan Chase & Co. from $167.00 to $171.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. HSBC began coverage on shares of JPMorgan Chase & Co. in a research note on Thursday, September 7th. They set a “hold” rating and a $159.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of JPMorgan Chase & Co. from $187.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. 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 note on Monday, October 16th. Finally, Jefferies Financial Group lowered their price objective on shares of JPMorgan Chase & Co. from $176.00 to $169.00 in a research note on Tuesday, October 10th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $168.80.
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.
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